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France’s Groupe SEB has decided to acquire the remaining 45 per cent stake in kitchen appliance maker Maharaja Whiteline for an undisclosed amount.
The company had acquired 55 per cent in the company in December 2011.
The company which was formed by Harish Kumar in 1976, has a network of 500 distrbutors and was a strong player in the kitchen appliances segment.
In a statement, the company said, “This full acquisition confirms Group 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.”
Martin Zouhar who is the Vice President at Groupe SEB for Eurasia (Africa, India, Middle – East, Russia, Turkey and Ukraine), has been appointed as Chairman and Managing Director of Maharaja Whiteline. At the same time Sunil Wadhwa will remain the CEO, the statement added
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