Crompton Greaves to acquire a 55% stake in Butterfly Gandhimathi Appliances for $278m.

Crompton Greaves, an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution, agreed to acquire a 55% stake in Butterfly Gandhimathi Appliances, a prominent brand in the kitchen appliances market, for $278m. The acquisition will help CG Consumer increase the share of small domestic appliances in its portfolio to 24% of revenue from 10% at present.