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Bajaj Electricals to acquire Morphy Richards brand rights in India and neighbouring markets
The acquisition, valued at Rs 146 crore (exclusive of taxes and duties), will cover brand rights in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, as stated in the company’s regulatory filing.
Indian consumer electricals company Bajaj Electricals announced on September 23 that its board has approved a proposal to acquire the Morphy Richards brand and related intellectual property rights in India and five neighbouring countries from Ireland-based Glen Electric, part of the Glen Dimplex Group, according to an Economic Times report.
The acquisition, valued at Rs 146 crore (exclusive of taxes and duties), will cover brand rights in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, as stated in the company’s regulatory filing.
The transaction is subject to the negotiation and execution of definitive agreements, as well as the necessary statutory and regulatory approvals.
Bajaj Electricals has had a licensing arrangement with Morphy Richards for over two decades, allowing it to market and distribute the brand in India. With this acquisition, the company will obtain full ownership of the brand rights in the specified territories.
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