Bajaj Electricals has announced the acquisition of the intellectual property rights of Morphy Richards for ₹146 crore in India, Nepal, Bhutan, Bangladesh, Sri Lanka and the Maldives.

The consumer durable maker will acquire the rights from Irish maker Glen Electric Limited (part of the Glen Dimplex Group).

“We wish to inform you that the Board of Directors of the Company has given its consent to a proposal for the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights (“Business IP” / “MR Brand”) in the territories of India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka (“Territory”), from Glen Electric Limited (part of the Glen Dimplex Group, Ireland), the owner of the MR Brand/Business IP, for a consideration of INR 146 crore (exclusive of any taxe

See Full Page