The company has announced that it has signed a definitive agreement to acquire the IP and brand rights of Morphy Richards India and certain South Asian markets for a consideration of ₹141.4 crores. This is a step further in over two decades of association between both companies under a licensing model. This acquisition will allow Bajaj Electricals Ltd to own and control the Morphy Richards brand in India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives.

The Morphy Richards brand has been a renowned brand across the world since its inception in the UK in 1936. It is known for its premium home appliances and personal care products. In India, Morphy Richards has been associated with Bajaj Electricals Ltd under a licensing model since 2002. Over the years, it has grown to become one of the top international brands in India in various product categories. In 2022, both companies signed a trademark licensing agreement for 15 years. This acquisition is a step towards further consolidation in this multi-brand portfolio.

“This acquisition is a natural next step in our portfolio journey. Over the years, we have come to understand the changing needs of Indian consumers. Acquiring Morphy Richards India brand offers us strategic flexibility to invest more consistently and innovate more rapidly to accelerate growth in premium consumer segments,” said Sanjay Sachdeva, MD and CEO, Bajaj Electricals.

From Glen Dimplex’s perspective, Morphy Richards is an iconic brand that has tremendous heritage and emotional connection. “We are pleased to entrust the Morphy Richards brand in India and neighboring markets to Bajaj Electricals Ltd . Their proven track record and understanding of the local market landscape make us confident that they will help the brand continue to flourish and evolve,” said Mr. Fergal Naughton , Executive Chairman, Glen Dimplex.