Maharaja Whiteline is pleased to announce that an agreement has been finalized with France’s Groupe SEB who will acquire the remaining 45% stake of Maharaja Whiteline. After the acquisition of 55% of the capital back in December 2011, Groupe SEB will thus hold 100% 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 our distribution partners will be intensified. Finally, improvement of customer care support will be strengthened around the country.
Mr. Martin Zouhar is appointed as Chairman and Managing Director of Maharaja Whiteline. Mr. Zouhar is the Vice President at Groupe SEB for Eurasia (Africa, India, Middle – East, Russia, Turkey and Ukraine).
Mr Sunil Wadhwa will remain Chief Executive Officer. Mr Wadhwa was previously CEO and Managing Director of Usha International Limited. The combined presence of Mr Zouhar and Mr Wadhwa will provide an impetus to the development of Maharaja Whiteline.
About Groupe SEB:
Groupe SEB is the world leader in small domestic equipment, with a turnover of Rs. 35000 Cr. in 2013. This France-based company operates in nearly 150 countries with a unique portfolio of top brands such as Moulinex, Krups, Rowenta and Tefal. Selling some 200 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and service to clients. Groupe SEB has close to 25,000 employees worldwide.
About Maharaja Whiteline:
Created in 1976 and developed by Harish Kumar, Maharaja Whiteline has its roots in northern and western India. It is one of the major players, with a portfolio covering several families through small domestic appliances. In particular, Maharaja Whiteline is an established brand name in mixer grinders. Backed by a network of 500 distributors, Maharaja Whiteline is present in over 26,000 sales outlets. The company operates a plant in Baddi, Himachal Pradesh and employs around 350 people.