RR Kabel buys Luminous' home electrical business from Schneider
By MYBRANDBOOK
RR Kabel has acquired Luminous Power's home electrical business (HEB) from French engineering company Schneider. This acquisition will further strengthen RR Kabel's consumer electrical business, which has a portfolio of fans, lights and appliances. The company's Managing Director Shreegopal Kabra said, the transaction is subject to closing adjustments and is expected to complete in May this year. Kabra said both the companies are unlisted entities and have decided not to disclose the amount.
Besides, RR Kabel plans to bring its IPO and get the company listed on stock exchanges in the last quarter of 2023.
Luminous' HEB consists of fans and lights and would help RR Kabel enter into the premium segment of this category.
Under this category, Luminous recently introduced its series of energy-efficient star-rated premium designer fans in India.
As part of the deal, RR Kabel would have rights to use the Luminous brand for four years for the existing product lines of fans and lighting under a Brand Licensing Agreement, Kabra added.
Commenting on the development, RR Kabel CEO Consumer (FMEG) Business Vivek Abrol said, after the deal, the company is now "reorienting" its target for the segment. Abrol added, “Earlier, our vision without this Luminous HEB was, touching Rs 1,000 crore business in next 3-4 years time. However, the goal is now reoriented. We want to touch about Rs 2,000 crore in next 5 to 6 years".
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