Bajaj Electricals to acquire Morphy Richards brand rights in South Asia for Rs 146 crore

Bajaj Electricals Ltd on Tuesday said its board has approved a proposal to acquire Morphy Richards and related intellectual property rights in India and five neighbouring markets from Ireland’s Glen Electric Ltd, part of the Glen Dimplex Group.

The company will purchase the brand's rights across India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka for a consideration of Rs 146 crore, exclusive of taxes and duties payable in the region, Bajaj Electricals said in a regulatory filing.

The acquisition will be subject to the negotiation and signing of definitive agreements between the parties, along with requisite statutory and regulatory approvals.

“The board of directors, at its meeting held on September 23, 2025, gave its consent to the proposed transaction,” the company said, adding that it will make further disclosures as the deal progresses.

The board meeting commenced at 6:00 pm and concluded at 6:35 pm, it added.

Bajaj Electricals has been associated with the Morphy Richards brand for more than two decades through a licensing arrangement for marketing and distribution in India.

With this acquisition, the company will secure outright ownership of the brand rights in the specified territories.