MUMBAI: It’s made its mark in the electrical appliances and components sector, courtesy it highpowered media and advertising blitz in TV and in print. Now branding champion Havells India is looking to replicate that feat in the consumer durables business sector too. Over the weekend the company announced that it has received board approval to acquire Lloyd Consumer Durable Business Division at an enterprise value of Rs 1,600 crore.

The transaction will take about eight weeks to be executed. The company has signed an in-principle agreement with Lloyd Electrical and Engineering Ltd and Fedders Lloyd Corp Limited to acquire the Lloyd brand and the consumer durable business that is engaged in sourcing, assembling, marketing and distribution of consumer durables including air-conditioners, TVs, washing machines and other household appliances.

Havells will acquire the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights

Havells is a major brand in the electrical appliances in components sector and is know for its focused advertising – especially for its tough wires.

Lloyd has, over the last decade, built a brand, distribution and service network to provide a comprehensive experience to its consumers. It is among the top 3 brands in air‐conditioners’ category with a well‐entrenched national network in Tier I and II cities. The brand has expanded into TVs and Washing machines as well.

Havells India CMD Anil Rai Gupta said, "The proposed acquisition is in line with Havells objective of 'Deeper into Homes', driving domestic expansion and owning a brand and distribution oriented asset. We would leverage and extend the trust associated with brand Havells to consumers, dealers, vendors of Lloyd and create a similar recognition in the consumer durables segment."