TTK Prestige, through its wholly-owned subsidiary TTK British Holdings, has acquired Silampos UK for an undisclosed sum. Through this transaction, TTK Prestige has also acquired the entire equity and business of Horwood Homewares, a subsidiary of Silampos, and a table and cookware supplier in the UK. KPMG Corporate Finance was transaction advisor to TTK Prestige and Temple Bright LLP the legal advisor.
“Horwood brands will provide a strong footing for the rapid expansion of TTK’s business in the European markets. We will combine the design, manufacturing and marketing capabilities of TTK prestige to expand and grow the Horwood business in the European markets,” said T T Jagannathan, Executive Chairman at TTK Prestige. TTK Prestige is India’s largest kitchen appliances company and is one of the top 500 listed entities in India with a market capitalisation of half-a-billion GBP.