National, 13th April, 2022: RR Kabel,one of the leading electrical manufacturing company and a part RR Global, USD 1.25billion conglomerate has todayannounced the acquisition of Luminous Home Electrical businessfrom Schneider. This acquisition will further strengthen RR Kabel’s consumer electricals businesswhich 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 Electricalteam and associates into the RR Global familyand 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 leaderin the wire and cable industry, we believe the acquisition will further our leading position in India’sfast-growing home electrical industry.”
Mr. Tribhuvan Kabra, Chairman, RR Globaladded “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 addedconsumer centricbusiness, whichoutpacedthe industry growth in FY22 by over 3X. Looking forward, the Luminous Home Electricals Businesswill be a strong addition to our new chapter of growth,by leveraging its valued capabilities includingR&Dstrength, 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.”
About RR Kabel
RR Kabel is the flagship company of RR Global. It is amongst the leading wires and cables manufacturers in India and a pioneer in wire design, technology and applicability. The company has over the years, focused on technology and research to continually enhance the reliability and safe conduction of electricity, resulting in a stellar track record delivering over 30% compounded annual revenue growth over the last 20 years.
In their 20-year journey so far, RR Kabel has obtained or been awarded several product and system certifications and awards that speak to the firm’s continued focus on quality and reliability. RR Kabel has received over 27 international product certifications and is first in India to have REACH, ROHS & BASEC and relevant ISO certifications. RR Kabel today is a respected and recognized name in the Wires & Cables Industry in India and overseaswith a global presence in over 85 countries.
To enable the strategic vision, RR Kabel has the support of TPG that has invested in the RR Kabel business and is helping the organic and inorganic growth strategy to achieve RR’s vision.
TPG is a leading global alternative asset firm founded in San Francisco in 1992 with $114 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions. TPG aims to build dynamic products and options for its clients while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com or @TPG on Twitter