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Our Bureau Consumer durables company Whirlpool India said it will acquire 49 per cent in Elica PB India Pvt Ltd for an undisclosed amount, as part of its strategy to strengthen its presence in the cooking and built-in appliance segment .
Elica PB India is a subsidiary of Elica SpA Italy and makes kitchen hoods, built-in hobs and cooktops. It has been operating in India since 2010. Whirlpool India said this will be a strategic JV and Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India.
The two firms expect this transaction to be closed in the second-half of this year.
In a statement, Sunil D’Souza, MD, Whirlpool India, said: “The cooking and built-in appliance space is poised for strong growth in India based on increasing consumer demand. Whirlpool aims to expand its portfolio of innovative products, with Elica’s capabilities in consumer insights, design, and manufacturing and also broaden its distribution.”
According to Pralhad Bhutada, CEO, Elica PB India, “... With the addition of Whirlpool brand’s products, we will be offering two very appealing appliance brands to the Indian consumers.”
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