V-Guard Industries (V-Guard) announced on Friday that it is acquiring a 100 per cent stake in Sunflame Enterprises for a consideration of Rs 660 crore.

The company announced on Friday that it had signed a definitive agreement, and that the transaction would be cash-free and debt-free, subject to closing adjustments. According to V-regulatory Guard’s filing, the transaction is expected to close by the middle of January 2023.

The acquisition is consistent with V-strategy Guard’s of becoming a major player in the domestic kitchen appliances market. SEPL has a pan-India presence through its Sunflame brand.

V-Guard received financial, legal, and transaction advisory services from Deloitte Touche Tohmatsu India, Cyril Amarchand Mangaldas, and Singhi Advisors, respectively.

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