After MG Motor, another Chinese co. gets Indian partner: Sunil Mittal’s Bharti Enterprises buys stake in consumer appliances maker Haier’s local ops
New Delhi: Bharti Enterprises and Warburg Pincus on Wednesday announced a strategic investment in Haier India, a subsidiary of Chinese consumer electronics maker Haier Group, picking up a collective 49% stake in the company. This is the second Chinese company to have sold a significant stake in its Indian operations after MG Motor, a unit of SAIC, divested a portion of its stake in favour of Sajjan Jindal’s JSW Group. The size of the Haier deal was not disclosed.The companies said in a statement that the strategic collaboration will accelerate Haier’s growth and expansion in India by bringing together and leveraging the company’s global excellence in innovation, Bharti’s strong standing and resultant networks, and private equity firm Warburg Pincus’ strong track record of scaling brands.“Bharti Enterprises, one of India’s most prominent and diversified business conglomerates, and Warburg Pincus, the pioneer of global growth investing, today announced a strategic investment in Haier India, a subsidiary of the Haier Group,” the statement said.Haier Group will retain a 49% ownership stake in Haier India, with the remaining 2% held by Haier India’s management team.“The partnership will bolster Haier India’s ‘Made in India, Made for India’ vision by deepening local sourcing, expanding manufacturing capacity, driving product innovation, and accelerating market penetration,” it said.The new capital infusion will also enhance Haier India’s competitiveness across the entire value chain, the statement said.The move comes at a time when the consumer appliances market in India is witnessing growth, specially in the premium category.Haier India has a diversified product portfolio spanning air conditioners, refrigerators, televisions, washing machines, and kitchen appliances.Over the past seven years, the company has achieved a CAGR of approximately 25% in India, and the company said it has seen a robust performance across product segments and geographies.By combining global innovation with local insights and execution, the partnership will strengthen Haier India’s leadership position in the rapidly growing Indian consumer durables segment, the statement said.Bharti said it is pleased to collaborate with Warburg Pincus as they partner Haier to support the latter’s next phase of growth in India. “The company looks forward to playing a significant role in the evolving consumer durables industry and leveraging the collective strengths of all parties to meet the needs of Indian consumers,” the statement said.Bharti is confident that Haier India will further consolidate its standing as a leading brand in India, powered by global innovations, enhanced customer services, and best in-class experience.This investment reflects Warburg Pincus’ ability to leverage its pan-Asia franchise, deep local insights, global expertise, and its expansive network to support and accelerate growth for leading companies across the region.Haier said the collaboration with Bharti Enterprises and Warburg Pincus marks an important milestone in Haier India’s development journey.“The strategic partnership fully embodies Haier’s approach of `serving globalisation with global capabilities and advancing globalisation through localisation. It brings together the complementary strengths of Bharti…and Warburg Pincus, whose strong franchises across China and India have helped scale many leading consumer and technology companies,” it said.
