Havells announces closure of Lloyd deal

Havells India Limited today announced the successful completion of its acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). The acquisition has been executed at an enterprise value of Rs 1,600 crore on a debt free, cash free basis. The company has financed the transaction through internal accruals and cash balances.

Havells has acquired the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights.

Through this acquisition, Havells marks a foray into consumer durables industry currently estimated at $15 billion and growing