Guangdong Xinbao Electrical Appliance Holdings completed the acquisition of Morphy Richards from Glen Dimplex for €185m.

Guangdong Xinbao Electrical Appliance Holdings, a consumer electronics company, completed the acquisition of Morphy Richards, a British brand of electrical appliances, from Glen Dimplex, an Irish based consumer electrical goods firm, for €185m. “We see ourselves doing a number of other deals in the next 12 months. There are clearly huge opportunities in heating and ventilation as the world moves away from fossil fuels to electric heating. Our strategy is to grow very strongly in this area,” Fergal Leamy, Glen Dimplex Chief Executive.