Crompton Greaves acquires Butterfly Gandhimathi

Crompton Greaves Consumer Electricals will acquire up to 55% stake in Butterfly Gandhimathi Appliances (Butterfly) for Rs 1,380 crore.The deal has been signed at Rs 1,403 per share totalling at Rs 1,379.68 crore and Crompton Greaves will also buy certain Butterfly trademarks from promoter group entities for Rs 30.38 crore.Butterfly is a key competitor in the kitchen appliance market, competing against companies like Stovecraft and Singer. Mixer grinders, table-top wet grinders, pressure cookers, stainless steel vacuum flasks, and LPG burners are among the company’s appliances.