JK Tyre & Industries said it had completed the Rs.2,195-crore acquisition of Cavendish Industries, a unit of B.K. Birla Group firm Kesoram Industries. “With the completion of the acquisition of Cavendish Industries, we have further strengthened our position in the truck and bus radial segment. It has also given us entry into two and three-wheeler vertical,” JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said on Monday. He said the acquisition, which has been funded by a combination of internal accruals and debt, brings an additional capacity of 100 lakh tyres to JK Tyre.
