New Delhi:- :Havells India Limited, Indias leading FMEG Company recently announced the successful completion of its acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). The acquisition has been executed at an enterprise value of Rs.1600 crores on a debt free, cash free basis. The company has financed the transaction through internal accruals and cash balances
Havells has acquired the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights.
Through this acquisition, Havells marks a foray into Consumer durables industry currently estimated at $15 billion and growing in double digits with low penetration levels, increasing urbanization, inspirational and expanding middle class. Lloyd has, over the last decade, built a brand, distribution and service network to provide a comprehensive experience to its consumers. It is among the top 3 brands in air-conditioners category with a well-entrenched national network in Tier I and II cities. The brand has expanded into TVs and Washing machines as well.
Mr. Anil Rai Gupta, CMD Havells said, We welcome Lloyd as a part of Havells family. The acquisition will help us to gain foothold in the high growth consumer durable segment and serve our esteemed consumers with wider product range. We excited by the opportunity ahead and dedicate this acquisition to the inspirational young and dynamic Indian.
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