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On December 16, 2011, Groupe SEB has acquired a majority interest in the Indian company Maharaja Whiteline, one of the leading players in India’s small domestic equipment market.
In fact, for several years now Groupe SEB has been targeting India as a vector for strategic development. It is a €1.2 billion market (small domestic appliances), with a yearly growth rate of 15%. We have been ready to grasp an acquisition opportunity but have taken the time to find a quality partner. And today it is done!
We have thereby taken up a 55% stake in Maharaja Whiteline, the remaining shares are still held by the company’s founder, Harish Kumar, and his family. Harish Kumar will remain the company’s Chief Executive Office.
Maharaja Whiteline was established by Harish Kumar in 1976. It is a brand that has been historically located in the North and West of India. It has developed into a market leader thanks to an extensive product portfolio of small household appliances – food preparation, breakfast, cooking, homecare and linen care. Maharaja holds a leading position, especially in the domain of “mixer grinders”, symbolic flagship appliances for Indian kitchen electrics.
From an industrial standpoint, Maharaja has a factory in the North of India with a capacity of over 3 million units and around 350 employees. On the commercial side, the company has a network of 19 storage warehouses, 22 regional offices and 330 distributors… And its products are available from more than 26,000 retail outlets!
This acquisition gives Groupe SEB a foothold in the Indian small domestic appliances market, from which we have been absent until now. It is a decisive step that assures our presence in new, rapidly developing economies.
Maharaja is a dynamic company, recording average annual growth of over 25%. It has significant assets to support its growth through the years to come: high-performing industrial means and management with a strong entrepreneurial mindset, experienced teams, a well-established distribution network and nationwide after-sales services, which is vital in a country with a strong repairs culture.
The Group’s role will be to contribute to the acceleration of Maharaja Whiteline’s development, as we did in China with Supor or in Brazil with Arno, through the implementation of synergies, expanding product lines and optimizing technological, industrial and commercial processes.
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