Written by The Banking Post
Nabil Group, one of Bangladesh’s largest commodity importers, has acquired three manufacturing units of Partex Star Group — its particle board, furniture, and PVC divisions — in a deal estimated at around Tk1,500 crore, according to industry insiders.
With this acquisition, the Rajshahi-based conglomerate, founded in 2006, is making a bold move beyond its traditional food commodities business into the consumer durables market.
Md Aminul Islam, founding managing director and CEO of Nabil Group, confirmed the purchase but declined to reveal the deal’s value, saying a formal announcement will be made next month. “Around a dozen banks are involved in the process. It will take some time to complete the full takeover,” he said, adding that the company is also working to resolve worker-related issues, as nearly 3,000 employees are attached to the acquired units.
The group has already begun recruiting for the newly acquired factories through newspaper advertisements.
Efforts to reach Partex Star Group Chairman Aziz Al Kaiser for comment were unsuccessful.
Nabil Group has rapidly grown into a major player in Bangladesh’s commodity market, importing large volumes of wheat, lentils, peas, soybeans, and rice. Last year, the group accounted for about one-fourth of the country’s wheat imports, nearly half of lentil imports, and over 50 percent of pea imports. It is also the second-largest rice producer in the country, with a daily production capacity of 1,364 tonnes.
In FY2023–24, the group imported goods worth $1.21 billion, joining Bangladesh’s exclusive billion-dollar importers’ club.
Partex Star Group, one of the country’s oldest conglomerates, operates 20 manufacturing and trading concerns, with businesses spanning consumer durables such as boards, doors, and furniture, to fast-moving consumer goods (FMCG) including dairy products, cookies, and spices.
