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Advent International eyes controlling stake in Whirlpool India
Advent is said to be the sole contender and is in advanced negotiations with Whirlpool India’s Michigan-based parent, Whirlpool Corporation, to acquire a 31% stake. The discussions are reportedly under deal exclusivity until the end of November.
For Advent, this would mark the third major negotiation in India’s appliances sector since 2015, following its involvement with Crompton Greaves’ consumer electricals business and Eureka Forbes.
Private equity firm Advent International is reportedly closing in on acquiring a controlling stake in Whirlpool India, according to an Economic Times report.
The listed home appliances maker has been focusing on cost-cutting and prioritizing higher-margin products such as blenders and coffee makers in larger markets like the US, following a USD 1.5 billion loss at the end of 2022.
Advent is said to be the sole contender and is in advanced negotiations with Whirlpool India’s Michigan-based parent, Whirlpool Corporation, to acquire a 31% stake. The discussions are reportedly under deal exclusivity until the end of November.
For Advent, this would mark the third major negotiation in India’s appliances sector since 2015, following its involvement with Crompton Greaves’ consumer electricals business and Eureka Forbes.
This year, Whirlpool India reported 16% YoY consolidated revenue growth, with double-digit gains in FY25. Its consolidated profit rose 48% YoY, and margins improved to 6.1%. Ad spend also jumped 47.4% YoY to Rs 84.31 crore, compared to Rs 57.03 crore in FY24.
The consumer durables sector saw single-digit growth in FY25, driven in part by a warm summer that boosted demand for air conditioners and refrigerators.
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