Deal over
Crompton Greaves Consumer Electricals Ltd will acquire Butterfly Gandhimathi Appliances Ltd for a total consideration of Rs 2,076.63 crores. It has signed definitive agreements with certain members of the promoter group of Butterfly. It will acquire up to 55 % stake at Rs 1,403 per equity share aggregating up to Rs 1,379.68 crores.
Extend product portfolio
Butterfly is a leading kitchen and small domestic appliances brand. Crompton has, in its long-term strategic plan, laid out the roadmap to “Extend the Core Product Portfolio, a senior official said.
This acquisition provides concrete support to Crompton for becoming a leading pan-India kitchen appliances player. Crompton is a synergistic fit, and together, there is great potential for powerful complementarity going forward.
