M&A

M&A

V-Guard to acquire kitchen appliances maker Sunflame for Rs.660-Cr

BSE Disclosure  

Kochi-based, publicly-listed electric devices maker V-Guard Industries is to acquire 100% stake in Faridabad-based Sunflame Enterprises Pvt Ltd (SEPL) for INR 660 crore, on a cash-free, debt-free basis. Deloitte Touche Tohmatsu India, Cyril Amarchand Mangaldas and Singhi Advisors provided financial, legal and transaction advisory services respectively to V-Guard. The transaction would be funded through a mix of internal accruals and debt. Sunflame is a player in the kitchen appliances space. The company sells cooktops, chimneys, pressure cookers, and mixer grinders. SEPL reported a revenue of INR 349.8 crore for FY22.