RR Kabel, one of the leading electrical manufacturing company and a part RR Global, USD 1.25billion conglomerate has today announced the acquisition of Luminous Home Electrical business from Schneider. This acquisition will further strengthen RR Kabel’s consumer electricals business which has a diversified portfolio of fans, lights & appliances. The transaction is expected to close in May’22.
Speaking on the acquisition, Mr. Shreegopal Kabra, Managing Director, RR Kabel said, “We are delighted to welcome the Luminous Home Electrical team and associates into the RR Global family and embark on a new journey together. Leveraging each other’s strengths – especially in technological expertise, skills and capabilities – we are confident the collaboration will help expand our services and create greater value for all of our customers. At RR, we have always upheld the highest quality and safety standards for our customers, and Schneider’s faith in transferring their home electricals business to us stands as a testament to that. As a major player and innovation leader in the wire and cable industry, we believe the acquisition will further our leading position in India’s fast-growing home electrical industry.”
Mr. Tribhuvan Kabra, Chairman, RR Global added “The acquisition of Luminous Home Electrical Business (part of Schneider group) an important step in our overall growth strategy. Considering that we are one of the fastest-growing companies in this sector, we have always believed in ensuring consistent innovation within our product portfolio to meet our customer expectation. Through this acquisition with Luminous HEB we hope to better deliver on our promise to our stakeholders across the country and to take our brand to the next level.”
Speaking on the acquisition, Mr. Vivek Abrol, CEO – Consumer (FMEG) Business, RR Kabel said – “We are on an exciting journey of expanding a value added consumer centric business, which outpaced the industry growth in FY22 by over 3X. Looking forward, the Luminous Home Electricals Business will be a strong addition to our new chapter of growth, by leveraging its valued capabilities including R&D strength, a state-of-art manufacturing facility, admired product portfolio and most importantly a dedicated and highly capable team and channel partner network. This acquisition is an important milestone to our ambition of creating one of the leading national portfolios in the home electricals category over the next 5-6 years.”