ET reported that Mumbai based Varun Industries, which is present in steel ware, oil & gas and mining sectors, is in talks to acquire the kitchenware plant of Kishco Group.

The 55 year old group that runs a kitchenware business is close to selling its Nasik manufacturing facility to Varun Industries, as it wants to focus more on marketing the product than manufacturing.

A senior official at Kishco said that nothing has been finalized. People with knowledge of the proposed deal say that Varun will run the manufacturing unit and will continue to supply the products to the seller and export the rest of the production.

Analysts said that the acquisition will increase Varun's capacity and will provide it access to high margin export market.

(Sourced from ET)