Eureka Forbes
| Company type | Public |
|---|---|
| BSE: 543482 NSE: EUREKAFORB | |
| Industry | Home appliances |
| Founded | 1982 |
| Headquarters | Mumbai, Maharashtra, India |
Key people | Pratik Pota (MD & CEO) |
| Products | |
| Brands |
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| Parent |
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| Website | eurekaforbes |
Eureka Forbes Limited is an Indian multinational home appliances company based in Mumbai. It makes water purification devices, vacuum cleaners, air purification systems, and home security products.[2]
History
Eureka Forbes was founded on 15th February 1982 as a 60:40 joint venture between Tata Group's Forbes & Company and Swedish manufacturer Electrolux. In 2001, Tata Group sold Forbes & Company to Shapoorji Pallonji Group and, four years later, Electrolux sold its 40% stake in Eureka Forbes to Forbes & Company.[3]
In 2010, Eureka Forbes acquired a 25% stake in Swiss consumer products company Lux International. In 2013, Eureka Forbes increased its stake to become the controlling shareholder in Lux International.[4]
In 2022, Advent International bought out Shapoorji Pallonji Group's entire stake in Eureka Forbes, after Eureka Forbes was separated from Forbes & Company and listed on the BSE.[5][6]
External links
- ^ "Eureka Forbes undergoes rebranding exercise". The Hindu. 21 December 2020. Retrieved 17 February 2023.
- ^ "SP Group looks at listing or stake-sale of Eureka Forbes". The Times of India. 20 November 2019. Retrieved 17 February 2023.
- ^ Coster, Helen. "Every Salesman a King". Forbes. Retrieved 17 February 2023.
- ^ Mitra, Sounak (15 May 2013). "Eureka Forbes to acquire majority stake in Lux International". Business Standard India. Retrieved 17 February 2023.
- ^ "Shapoorji Pallonji and Co exits from Eureka Forbes". The Economic Times. 14 July 2022. Retrieved 17 February 2023.
- ^ "PE major Advent International buys majority stake in Eureka Forbes". Business Standard. Retrieved 1 October 2021.