TTK Prestige acquires UK’s Horwood Homewares Ltd.

India: On Tuesday, TTK Prestige Ltd. acquired UK's largest table and cookware suppliers Horwood Homewares Ltd a subsidiary of Silampos UK. Horwood, which was established in 1896 and is one of the largest table and cookware suppliers in the UK and operates through Horwood, Stellar and Judge brands in UK. The company generated a revenue of around USD25.6 million in 2015.

TTK Prestige is a major player in India's kitchen appliances segment and has 10 factories, 23 warehouses and is present through 50,000 retailers across India. The company is also internationally present in the UK, Europe, the US, the Middle East, Africa, South East Asia, Australia and New Zealand.

According to TechSci Research report “India Non Electric Kitchen Appliances Market Forecast & Opportunities, 2020”, the country’s non electric kitchen appliances market is projected to grow at a CAGR of more than 12% during 2015-20. Southern region, closely followed by Northern region, dominates the non-electric kitchen appliances market and the trend is expected to continue through 2020. Dominant segment in the country’s non electric kitchen appliances market include pressure cookers, gas stoves, cook & serve ware, and spatulas & ladles. TTK Prestige, Hawkins Cookers, Jaipan Industries, Pigeon Kitchen Appliances are few of the major non electric kitchen appliance players operating in India.

According to TechSci Research, the acquisition of UK's largest table and cookware suppliers is anticipated to provide a strong footing for the rapid expansion of the company’s business in the European markets. The company will focus on designing, manufacturing and marketing capabilities of TTK prestige to expand and grow the Horwood business in the European markets. This deal would also increase the company’s product portfolio especially in the European markets as Horwood Homewares has more than 2,000 products in its portfolio.