V-Guard to acquire home appliances maker Sunflame for Rs.660 crore

The company said that it has signed definitive agreement on Friday and the deal will on a cash-free, debt-free basis, which is subject to closing adjustments. The transaction is expected to close by mid of January 2023, said V-Guard in its regulatory filing.

The acquisition is in line with V-Guard’s strategy to become a significant player in the domestic kitchen appliances segment. SEPL has a pan India presence operating under its Sunflame brand.

Deloitte Touche Tohmatsu India, Cyril Amarchand Mangaldas and Singhi Advisors provided financial, legal and transaction advisory services respectively to V-Guard.

"The proposed acquisition is a key milestone in V-Guard's journey to have deeper engagement with its consumers by providing thoughtful products and experiences. Sunflame is an iconic brand etched in the memories of Indian households and is expected to provide significant thrust to V-Guard's plans to become a leading Indian Kitchen Appliances player. We appreciate the trust reposed by SEPL's Promoter family in us to take the Sunflame brand to greater heights," said Mithun Chittilappilly, Managing Director, V-Guard.