Tree House acquires Brainworks Learning Systems
Mumbai: Tree House Education and Accessories Ltd ('Tree House"), India's leading self-operated pre-school chain, today said it has successfully completed the business purchase transaction with Brainworks Learning Systems Pvt Ltd .
With this transaction, Tree House has gained ownership of the Brainworks brand along with all its assets, a company statement said here.
"Our acquisition for a consideration of Rs 5 crore will be cash accretive from year one. We believe that the Brainworks business shall pay-back the total amount invested over the next 36 months," Tree House Education Managing Director Rajesh Bhatia said.
All 13 self-operated centres and 51 franchisee centres running under the Brainworks brand will now be a part of Tree House. These centres are located in Delhi & NCR, Punjab, Uttar Pradesh, Uttaranchal, Uttrakhand, Jammu & Kashmir, Gujarat, Maharashtra, Goa, Karnataka, Andhra Pradesh and Tamil Nadu. Tree House pre-school network including "Brainworks" and "Global Champs" acquisition reaches nearly 450 centres spread across the country, the release said.
"The Brainworks transaction reinforces our belief of consolidation happening in favour of quality players in the pre-school sector. The Brainworks network ensures presence in new geographies where we are not present, Tree House Education Managing Director Rajesh Bhatia said.
Brainworks has 64 (13 self-operated centres and 51 franchisee) centres operating under the "Brainworks" brand.