InvestorQ : Is Eureka Forbes looking for a buyer for the business?
sarah Leo made post

Is Eureka Forbes looking for a buyer for the business?

Rashi Mehra answered.
1 year ago

In fact, global PE firm, Advent International even appears to be very close to being the successful bidder for Eureka Forbes. The company is a flagship consumer durable brand of the Shapoorji Pallonji Group. It had become a virtual household name in products like vacuum cleaners and water purifiers. However, the Mistry family has been facing a liquidity crisis after their relations with the Tatas soured some four years back.

A total of 3 bidders were reportedly looking at Eureka Forbes including Advent International, Warburg Pincus Electrolux. Out of these 3 shortlisted names, it looks like Advent may be the closest to taking control of Eureka Forbes. It looks like Eureka Forbes is looking to take full advantage of the health, hygiene and home improvement wave triggered in Indian households by the pandemic.

Forbes has Asia's largest direct sales task force plus a customer base of over 2 crore customers. It covers 450 cities and towns in India and also has a global footprint in 53 countries. It has annual revenues in excess of Rs.2,500 crore.