Bajaj Electricals has announced a significant strategic move to strengthen its position in the home appliances market by acquiring complete ownership of the Morphy Richards brand across India and five neighbouring countries.
The board approved the Rs 146 crore acquisition on September 23, marking a major expansion of the company's premium appliance portfolio. Following the news, Bajaj Electricals stock jumped 13.3 per cent to as high as Rs 653.80 apiece on the BSE in morning trade.
The transaction involves purchasing all brand rights and related intellectual property from Glen Electric Limited, a subsidiary of Ireland's Glen Dimplex Group, which currently owns the Morphy Richards brand. This deal covers six key South Asian markets: India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka.
Bajaj Electricals has maintained a long-standing relationship with Morphy Richards, serving as its partner in India since April 2002. The company previously extended its trademark agreement with Morphy Richards for 15 years starting July 2022, and now moves toward complete ownership of the brand in the region.
The acquisition remains subject to several important conditions before completion. Both companies must negotiate and execute definitive agreements, while also obtaining necessary statutory and regulatory approvals. Bajaj Electricals has committed to providing updates as required under securities regulations once these milestones are achieved.
According to the company, the deal represents a significant step in Bajaj Electricals' strategy to strengthen its consumer products segment. The company currently markets premium appliances under the Morphy Richards brand, including kitchen equipment like mixers, ovens, coffee makers, and air fryers, as well as personal care products such as hair styling tools.
With annual revenue of Rs 4,828.43 crore in fiscal 2025, Bajaj Electricals sees the brand acquisition as an opportunity to consolidate its position in India's growing appliances market while expanding its reach across South Asia. The company hopes that this Rs 146 crore investment could help expand its premium appliance business, capitalising on Morphy Richards' established market presence.
The deal value of Rs 146 crore excludes applicable taxes and duties, with the final consideration subject to the completion of formal agreements between both parties. This acquisition positions Bajaj Electricals to have complete control over a premium brand it has successfully managed for over two decades.
