The Somany Group’s flagship company Hindustan Sanitaryware and Industries Ltd (HSIL) is looking for an acquisition in the range of Rs 130 crore to Rs 300 crore in Europe.

The company is presently is in talks with overseas companies for concentrating on sanitary ware products and bathroom accessories.

HSIL, which sells its products under Hindware brand, has already roped in bankers in Europe to identify potential goal for an acquisition.

The company is keen to acquire a majority stake in those companies that are privately-held and family-run.

The size of the business deal is likely to be in the range of €20-50 million (Rs 130 crore to Rs 300 crore) and the company plan to fund the acquisition through internal accruals.

The company expects to double the revenue from this business in three years.