On Monday, Bengaluru-based cotton fabric maker Hi Fabrique Group announced the acquisition of the Indian operations of Tessitura Monti Spa. This Italian company spins, weaves, and processes textiles, for an undisclosed amount.

Tessitura Monti India Pvt Ltd (TMIPL), a wholly-owned subsidiary of Italy’s Tessitura Monti Spa, is one of the world’s best manufacturers of processed luxury and high-value cotton fabrics, a statement said.

The deal will help domestic firm Hi Fabrique (HF) Group, which has a “significant market share” in India’s high-value yarn-dyed shirting fabric market.

Industry officials said the deal was estimated at around Rs 2.05 billion.

Hugo Boss, Charles Tyrwhitt, Polo Ralph Lauren, Hackett, Prada, Gucci, Thomas Pink, Tailor man, Café Coton and other international brands are all customers of TMIPL.

In addition, TMIPL has a factory in Kolhapur, Maharashtra, mainly for export but also supplies local products.

“The Kolhapur factory supplies 20% of its production to the domestic market, used by brands such as Blackberry, Zodiac, Raymond’s, Louis Phillipe, Van Heusen, Nautica, Calvin Klein, Tommy Hilfiger,” it said.

Founded by Jodhraj in 1993 to cater to garment exporters in Bangalore, HF Group is India’s largest stockist of premium cotton shirting fabrics.

It caters to more than 500 brands like Louis Phillipe, Van Heusen, Blackberry, Park Avenue, Siyaram, Peter England, US Polo, Arrow, Basics, Pan America, Turtle, French Crown, Hamer cop, Amazon, Myntra, Lifestyle and more.

Jodhraj has been appointed chairman of Tessitura Monti India.

He said: “Through this acquisition, we will be able to leverage the strengths of both companies to create a stronger and more diverse product portfolio. By combining our expertise, resources and talents, we will be better able to meet the ever-changing demand of our customers and deliver innovative solutions that exceed their expectations.”