Indian auto component maker Varroc Group has acquired 80% stake in Europe's largest two-wheeler headlights and tail lights maker TriOM SPA for an undisclosed amount.

Mr Tarang Jain MD of Varroc confirmed the acquisition. However, he refused to disclose the ticket size of the deal, as the transaction is still subject to regulatory approvals in Italy. Mr Jain said that "This acquisition helps us in two ways; it strengthens our technology and widens our product portfolio. It also allows a bigger global reach.”

He added that "TriOM's plan to set up a plant in Vietnam will give us a big gateway to reach out to the fast growing Southeast Asian markets, which is our big focus going ahead.”

Italy-based TriOM is a supplier to leading global automobile companies, including Piaggio, Honda, Yamaha and Ducati, with nearly 55% market share in Europe. It has two plants one in Turin in Italy and other in Romania. The company is setting up a plant in Vietnam to cater to the fast-growing two-wheeler market in the Asean region.

(Sourced from ET)