• About
  • Contact
Tuesday, April 13, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Industries

Duracell Is All Set To Acquire Eveready Batteries and Flashlight Business

Pritish raj by Pritish raj
September 9, 2019
in Industries, News
2 min read
0
Eveready batteries- Next Big Brand

Eveready batteries- Next Big Brand

Share on FacebookShare on Twitter
  • Warren Buffett’s Berkshire Hathaway owned, Duracell Inc. has toppled their rivals Energizer Holdings and is all set to acquire BM Khaitan’s flagship Eveready Industries’ battery and flashlight business in a low sale for Rs. 1,600-1,700.
  • The deal will make Duracell the owner of Eveready brand in India and will own an annual installed capacity of 1.5 billion batteries and over 20 million flashlights per year. This business records a revenue of roughly Rs. 900 crore.

Warren Buffett’s Berkshire Hathaway owned, Duracell Inc. has toppled their rivals Energizer Holdings and is all set to acquire BM Khaitan’s flagship Eveready Industries’ battery and flashlight business in a low sale for Rs. 1,600-1,700. This deal includes manufacturing plants, distribution network, and the Eveready brand.

This all-cash deal is in the last stages of negotiation and will be announced soon. This deal is expected to help the company remove all the debt they are into.

The transaction came after months of talks between the Khaitan family and Duracell along with Energizer which owns the Eveready brand in US and China.
The deal will make Duracell the owner of Eveready brand in India and will own an annual installed capacity of 1.5 billion batteries and over 20 million flashlights per year. This business records a revenue of roughly Rs. 900 crore.

The proposed offer by Duracell for the battery and flashlight business will not include the Eveready Industries’ lighting, confectionery, electrical appliances, and fast-moving consumer goods (FMCG) joint venture clocking a cumulative turnover of Rs. 500-600 crore. This deal can help Khaitan’s scale up the residual business in the upcoming years.

This deal also excludes the non-core real estate of the company which includes the Kolkata office at Rainey Park and lands in Chennai and New Delhi. The head office in Kolkata and lands in Chennai and New Delhi has valued at Rs. 200 crore as tracked by a group of market analysts.

The company will continue to leverage the brand and the distribution network for its lighting and appliances business on a royalty-free basis.

The group which is facing cash crunch right now is trying to lower down its assets including the tea gardens in India and overseas in order to pay off the lenders. Few lenders such as Yes Bank converted part of their exposure to equity in McLeod Russell recently.

Eveready is the largest maker of dry-cell batteries in India and it saw a 63 percent decline in the net profit to Rs. 6.85 crore for the first quarter which ended on June 30. The profit in the following year earlier stood at Rs. 18.35 crore.

The decline is largely due to the slowdown among the rural and semi-urban markets and it came as the company recorded a 16 percent dip in operating income to Rs. 321 crore for the June quarter against Rs. 383.34 crore in the last year

This deal will come as a breeze of fresh air for the company which is deeply in debt and this deal will help them become debt-free.

Tags: Duracell BatteryEveready Batteries
Previous Post

WestBridge to Acquire Majority Control of Fogg Maker Vini Cosmetics

Next Post

OTT Platforms Can Replace TV As Leaders In Entertainment In India

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella
Industries

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports
Internet

Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

April 11, 2021
Jeff Bezos to Step Down as CEO of Amazon Later This Year
Industries

Here is the List of Top 10 Richest Persons in the World of 2021

April 9, 2021
Industries

Nike is the Undisputed King among Apparel Brands: Brand Finance Study

April 9, 2021
Gupshup Raises $100 Million, Joins Unicorn Club
Media

Gupshup Raises $100 Million, Joins Unicorn Club

April 8, 2021
Next Post
OTT Platforms - Nextbigbrand

OTT Platforms Can Replace TV As Leaders In Entertainment In India

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Shreya Sachdev PUMA- Next Big Brand

PUMA Appoints Shreya Sachdev As Head of Marketing & Strategic Initiatives

8 months ago
WeWork CEO- Next Big Brand

Real Estate Veteran Sandeep Mathrani Is New CEO Of WeWork

1 year ago
Biocon Story- next Big Brand

Biocon Ltd.- Testament Of Determination & Strength Of Lady Boss Kiran Mazumdar-Shaw

5 months ago
Garuda Airlines & Moscow Airport Among Most punctual Airlines & Airports

Garuda Airlines & Moscow Airport Among Most punctual Airlines & Airports

1 year ago

FOLLOW US

  • 33.5k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
  • Nykaa Acquires Jewellery Brand Pipa Bella
  • Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

Instagram

Follow Me!

Latest News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.