Havells' Lloyd Consumer buyout to help gain strategic foothold in AC market

It has acquired Lloyd's consumer durable business that is engaged in AC, TVs & other home appliances

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Lloyd consumer durable products

BS B2B Bureau New Delhi

Last Updated : Feb 21 2017 | 11:15 AM IST

Havells India Ltd has forayed into consumer durables industry with the acquisition of Lloyd Consumer Durable Business Division for Rs 1600 crores on a debt free, cash free basis subject to closing adjustments. The move is expected to provide Havells a strong springboard for growth in the Indian AC market, which is estimated at about Rs 15,000 crore.

Havells has signed an agreement with Lloyd Electrical and Engineering Limited and Fedders Lloyd Corporation Limited for acquiring Lloyd brand and the consumer durable business that is engaged in sourcing, assembling, marketing and distribution of consumer durables including air conditioners, TVs, washing machines

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