Bajaj Electricals Secures Morphy Richards Brand Rights in Landmark Deal
Bajaj Electricals acquires the intellectual property rights of Morphy Richards from Glen Electric, part of the Glen Dimplex Group, for Rs 146 crore. The acquisition includes brand rights in India and neighboring markets. This strategic move enhances Bajaj's portfolio and strengthens its presence in the home appliance sector.
- Country:
- India
Bajaj Electricals, a leading home-grown appliances maker, is set to acquire the intellectual property rights of Morphy Richards for Rs 146 crore from Glen Electric, part of the Ireland-based Glen Dimplex Group. The acquisition includes brand rights across India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka.
The company announced the deal in a regulatory filing after market hours, subsequently boosting their shares by 5.69% to Rs 609.80 on Wednesday morning. This acquisition follows Bajaj Electricals' extension of its trademark agreement with Morphy Richards in March 2022 for an additional 15 years.
Bajaj Electricals aims to fortify its premium appliance offerings and expand in the female grooming segment through this strategic purchase. The transaction awaits finalization through definitive agreements and necessary statutory and regulatory approvals.
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