V-Guard Industries to acquire Sunflame Enterprises for Rs 660 crore

Deal likely to close by mid-Jan 2023, will be funded by mix of internal accruals and debt

Kerala-based V-Guard Industries (V-Guard) on Friday announced that it has signed definitive agreements for acquiring 100 per cent stake in Sunflame Enterprises (SEPL) for a consideration of Rs 660 crore, on a cash-free, debt-free basis, subject to closing adjustments. The transaction is expected to close by mid of January 2023.

The acquisition is in line with V-Guard’s strategy to become a significant player in the domestic kitchen appliances segment. The Sunflame brand has a pan-India presence with a strong recall. SEPL’s wide portfolio, product development capabilities and a recently established state-of-the-art integrated manufacturing facility provide the perfect opportunity for V-Guard