Groupe SEB Takes Full Control of Maharaja Whiteline
ECULLY, France -- May 13, 2014
Groupe SEB (Paris:SK) is pleased to announce that an agreement has been
finalized with its Indian partner to acquire the remaining 45% stake of
Maharaja Whiteline. After the acquisition of 55% of the capital in December
2011, Groupe SEB will thus hold 100% of the company.
This full acquisition confirms Groupe SEB’s ambition to expand in India and
quickly accelerate Maharaja Whiteline’s growth especially via a strong
pipeline of innovative products, supported by Groupe SEB’s world-known
expertise, and a strengthened relationship with its distribution partners.
Mr Sunil Wadhwa, who was formerly CEO and Managing Director of Usha
International Ltd, will remain Chief Executive Officer.
About Maharaja Whiteline:
Created in 1976 and developed by Harish Kumar, Maharaja Whiteline has its
roots in northern and western India. It is one of the major players, with a
portfolio covering several families of small domestic appliances. In
particular, Maharaja Whiteline is an established brand name in mixer grinders
and juicer mixer grinders. Backed by a network of 500 distributors, Maharaja
Whiteline is present in over 26,000 sales outlets. The company operates a
plant in Baddi, Himachal Pradesh and employs around 350 people.
The world leader in small domestic equipment, Groupe SEB operates in nearly
150 countries with a unique portfolio of top brands including Tefal, Rowenta,
Moulinex, Krups, Lagostina, All-Clad, and Supor, marketed through multi format
retailing. Selling some 200 million products a year, it deploys a long-term
strategy focused on innovation, international development, competitiveness and
service to clients. Groupe SEB has nearly 25,000 employees worldwide.
Investors / Analysts
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