Deal aims to scale local manufacturing, sourcing and market reach for appliance maker
Bharti Enterprises and private equity firm Warburg Pincus on Wednesday said they will acquire a 49 per cent stake in Haier India, a move aimed at strengthening the Chinese appliance maker’s manufacturing and sourcing footprint in the country.
Under the proposed transaction, Bharti and Warburg Pincus will jointly hold 49 per cent in the Indian unit, while Haier Group will continue to own an equal 49 per cent stake. The balance will be held by Haier India’s management team.
“Following the completion of the transaction, Bharti and Warburg Pincus will collectively own a 49 per cent stake in Haier India. Haier Group will retain a 49 per cent ownership stake in Haier India, with the remaining stake to be held by Haier India’s management team,” the company said in an exchange filing.
The partnership is expected to help Haier India scale up local manufacturing and sourcing, expand capacity, and support product innovation as the company looks to deepen its presence in the domestic appliances market. Warburg Pincus noted that it is excited to join hands once again with Bharti and to partner with Haier in India as it expands its footprint in the fast-growing consumer durables market. This investment reflects Warburg Pincus’s ability to leverage its pan-Asia franchise, deep local insights, global expertise, and its expansive network to support and accelerate growth for leading companies across the region.
Haier India sells a wide range of consumer durables, including air conditioners, refrigerators, televisions, washing machines and kitchen appliances.
The company has recorded a compound annual growth rate of about 25 per cent in India over the past seven years, driven by steady demand across product categories and regions, it said.
