Solar SA Investments Proprietary Ltd, a wholly owned step-down subsidiary of Nagpur-based Solar Industries India Ltd, and Omnia Holdings Ltd have signed definitive agreements for the acquisition of Omnia’s outstanding shares in an all-cash transaction valued at approximately $1.355 billion (₹12,951 crore).
Solar Industries, a manufacturer of industrial explosives, said the proposed acquisition would significantly expand its global presence and create one of the largest integrated explosives and blasting solutions platforms.
Omnia operates across 23 countries
Headquartered in South Africa and listed on the Johannesburg Stock Exchange, Omnia has a 73-year heritage and has evolved from an agriculture-focused business into a diversified international group serving the mining and agriculture sectors.
Omnia operates in 23 countries and serves customers in more than 40 countries through over 70 distribution centres across Southern and Western Africa and key international markets, including Australia, the US, Canada, Brazil and Indonesia.
Acquisition to expand mining footprint
For the financial year ended March 2026, Omnia reported revenue of approximately $1.41 billion (₹13,307 crore) and remained net cash positive.
The proposed transaction is expected to drive commercial growth and operational efficiencies through technology innovation, broader customer coverage, enhanced supply chain resilience, greater product and service integration and faster development of advanced blasting solutions.
Solar targets multi-fold Africa growth
The combination is expected to serve as a catalyst for Solar Group’s next phase of growth by expanding its manufacturing capabilities, market reach and access to strategically important mining jurisdictions.
The benefits of the expanded footprint and broader customer access are expected to become increasingly visible from FY28, with Solar Group expecting multi-fold growth in revenue attributable to Africa’s mining market.
BME adds global mining capabilities
“The proposed transaction marks an important milestone in our ambition to become a global leader in explosives and blasting solutions, while also providing us with a meaningful entry into integrated crop nutrition and biological solutions,” said Solar Group, Managing Director and CEO, Manish Nuwal.
“Omnia’s BME brand brings a strong international mining platform, high-quality manufacturing assets, technological leadership in electronic initiation systems, integrated ammonium nitrate manufacturing capability and an established presence across Africa and other international markets,” he said.
The acquisition will also provide Solar with access to Omnia’s capabilities in crop nutrition and biological solutions, complementing its core explosives and blasting business.