TTK Prestige acquires UK’s Horwood Homewares

The Dollar Business Bureau

TTK Prestige Ltd, India’s leading kitchen appliances company, has acquired 100 percent equity shares of UK-based cookware company Silampos UK Ltd, through its arm TTK British Holdings Ltd. With this deal, the TTK Prestige obtained 100 percent of the equity and business of Horwood Homewares Ltd, one of the leading suppliers of cookware in the UK.

A company press release said that the deal is a step forward in strengthening the TTK Group’s strategy for globalisation by introducing and increasing the popular brands across the globe in home appliances segment.

“The deal allows the TTK Group to utilise its capabilities of innovation, designing and manufacturing with global brands to considerably expand its operations worldwide. The transaction will also offer access to the largest markets of the Europe,” it said.

Commenting on the deal, T T Jagannathan, Executive Chairman of TTK Prestige said “The brand of Horwood will offer a firm footing in the European markets for the swift expansion of TTK’s business. We will utlilise our capabilities in designing, manufacturing and marketing to increase and grow the Horwood business in the markets of Europe.”