As part of the joint venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand.
In line with its strategic priority, Whirlpool India is set to expand the cooking and built-in appliance portfolio. The board of Whirlpool India on June 2 approved a proposal to enter into a strategic joint venture with Elica and acquire 49 percent equity in Elica PB India.
As part of the joint venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand.
Sunil D’Souza, Managing Director, Whirlpool India said, “The cooking and built-in appliance space is poised for very strong growth in India based on increasing consumer demand. This association will bring outstanding product innovation and provide more options to the kitchens of our consumers.”
Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010. Both companies expect the deal to close in the second half of 2018.
Pralhad Bhutada, CEO of Elica PB India said that with the addition of Whirlpool brand’s products, they will be offering two appealing appliance brands to the Indian consumers.