Havells India has completed the Rs 1,600 crore acquisition of consumer durable business of Lloyd Electric & Engineering. The acquisition, paving way for the Noida-based company to foray into the consumer durables segment, has been financed through internal accruals and cash balances.
This acquisition marks the foray of the company in the consumer durables industry, especially gaining a strong foothold in the air-conditioners segment. The brand has also expanded into the TV and washing machine segments.
Havells India is the country’s leading Fast Moving Electrical Goods (FMEG) manufacturer, producing a wide range of world class industrial and consumer electrical products. The Company works in step with the Make in India initiative and has an extensive production and distribution network across India and the world.