Moglix, a leading B2B marketplace for industrial products, has acquired Khatema Fibres, a well-established manufacturer of eco-friendly paper products, for Rs 80 crore (approximately $9.4 million).
This acquisition is set to enhance Moglix’s sustainable packaging offerings and bolster its position in the industrial procurement market.
Founded in 1990 and based in Uttarakhand, Khatema Fibres specializes in producing eco-friendly products such as kraft paper and food-grade packaging.
The company has an annual production capacity of 50,000 metric tons, with plans to expand to 75,000 metric tons..
Rahul Garg, Founder and CEO of Moglix, expressed his enthusiasm for the acquisition, stating, “We’re excited to welcome Khatema Fibres to the Moglix family. This acquisition helps us expand our manufacturing and deliver better solutions to meet market needs.”
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The acquisition of Khatema Fibres aligns with Moglix’s larger goal of enhancing its manufacturing capabilities and improving delivery efficiency.
This expansion is also part of Moglix’s efforts to support its Next Day Delivery service, which is currently available in 12 cities and is set to extend to 40 cities soon.
Founded in 2015 by Rahul Garg, Moglix has quickly become a major player in the B2B marketplace for industrial products, including electrical supplies and power tools.
In 2021, the company raised $120 million in funding and invested $50 million to expand its supply chain operations into the US and Mexico.
This acquisition also ties into Moglix’s commitment to supporting India’s “Viksit Bharat” mission, which aims to achieve key development milestones by 2047.
