Bajaj Electricals completes acquisition of Nirlep Appliances

Electrical goods maker Bajaj Electricals has completed the acquisition of Nirlep Appliances. After the 79.85 percent stake purchase, Nirlep has become a subsidiary of Bajaj Electricals from September 1.

The cookware brand Nirlep will continue to be sold as separate brand in the market.

In June, Bajaj Electricals announced the acquisition of kitchenware manufacturing company Nirlep for Rs 42.50 crore. The company said this will complement its existing offerings and is a 'perfect synergic blend'.

A name synonymous with non-stick cookware, Nirlep through its non-stick cookware, hard anodized cookware and pressure cookers will be able to add value to the existing product offerings of Bajaj Electricals. In return, it will gain access to the distribution network of the latter.

The kitchen appliances space, which constitutes almost a fourth of the Rs 1-lakh crore consumer durables industry, is now seeing increased interest from local and global players.

In an earlier interaction with Moneycontrol, Anant Purandare, CFO, Bajaj Electricals, said the Nirlep acquisition will result in revenue accretion for the company. He added that in the initial phase they will operate as a subsidiary of Bajaj Electricals.

After a few years, however, Nirlep will be merged into the company, though Nirlep as a brand will continue to exist in the market.