Bajaj Electricals to acquire rights to a popular brand, board approves

To strengthen its position in the home appliance segment, Bajaj Electricals has approved the acquisition of rights to a well-known brand. The company stated in a filing to the stock exchange that its board meeting held on September 23 approved a proposal related to the Morphy Richards brand and associated IP rights. The company provided this information after market hours.

What did the company disclose?

According to the company, it has approved a proposal to acquire the Morphy Richards brand and IP rights from Ireland’s Glen Electric, part of the Glen Dimplex Group, for ₹146 crore (approximately $1.46 billion). This deal will cover the Morphy Richards brand rights in India, Nepal, Bhutan, Bangladesh, Maldives, and Sri Lanka. This will give BEL complete control over a premium brand with which the company has been associated for over 20 years. According to the company, the deal still requires several approvals.

The company has been associated with the brand since 2002.

BEL has been marketing Morphy Richards products in India since April 2002, positioning them in the premium home appliances category. The nearly 90-year-old Morphy Richards brand operates in 26 countries and has a product portfolio across categories such as kitchen appliances, garment care, and floor care. Meanwhile, Bajaj Electricals, part of the Bajaj Group, already has a presence in the consumer products segment with non-stick cookware, fans, lighting, and other appliances under Nirlep Appliances. According to the company, this acquisition will further strengthen BEL’s consumer products business.