Groupe SEB to take full control of Maharaja Whiteline
Domestic appliance providers Maharaja Whiteline on Wednesday announced that an agreement has been finalized with France's Groupe SEB who will acquire the remaining 45 percent stake of Maharaja Whiteline.
After the acquisition of 55 percent of the capital back in December 2011, Groupe SEB will thus hold 100 percent of the company.
This full acquisition confirms Groupe SEB's ambition to expand in India and significantly develop Maharaja Whiteline.
As a matter of fact, Groupe SEB's objective is now to quickly accelerate Maharaja Whiteline's growth in India and better serve the Indian customers and consumers, through the following priorities. First, a strong pipeline of innovative products is already in process and is supported by Groupe SEB's world-known expertise. Second, relationship with the distribution partners will be intensified. Finally, improvement of customer care support will be strengthened around the country, the company said in a statement.
Martin Zouhar is appointed as Chairman and Managing Director of Maharaja Whiteline.
Zouhar is the Vice President at Groupe SEB for Eurasia (Africa, India, Middle - East, Russia, Turkey and Ukraine).
Sunil Wadhwa will remain Chief Executive Officer. Wadhwa was previously CEO and Managing Director of Usha International Limited.
(Posted on 14-05-2014)