Houlihan Lokey Advises Glen Dimplex Group

Houlihan Lokey is pleased to announce that Ireland-based electrical products and solutions business Glen Dimplex has completed the sale of its Morphy Richards home appliances brand to Shenzhen Stock Exchange-listed Chinese company Guangdong Xinbao Electrical Appliance Holdings, following its approach to buy the brand. Xinbao, which trades under the name Donlim, currently manufactures and sells Morphy Richards products under licence in China. Announced in June 2022, the sale has been subject to approval from the Chinese government.

Morphy Richards is an iconic British small domestic appliances brand with more than 80 years of heritage selling kitchen and home appliances. Under the terms of the transaction, Glen Dimplex has retained the rights to the brand in India, Nepal, Bhutan, Bangladesh, Maldives, Sri Lanka, and Israel. It will also have exclusive long-term rights to distribute the existing Morphy Richards product range under licence in Ireland, Australia, and New Zealand.

Glen Dimplex is a privately owned, Irish headquartered, international group with a 50-year manufacturing heritage. The Morphy Richards brand was acquired by Glen Dimplex founder and Irish industrialist Martin Naughton in the mid-1980s. Morphy Richards’ kitchen and home appliances are sold around the world, with key markets in China, Ireland, the UK, Australia, and New Zealand.

Guangdong Xinbao Electrical Appliance Holdings is a leading Chinese kitchen and home appliances business selling products under the Donlim brand and with a global revenue of approximately £1.8 billion.

This transaction bolsters Houlihan Lokey’s track record in the consumer appliances sector, strengthens its position as a leading advisor to the wider consumer products space, and showcases its cross-border transaction expertise.

Houlihan Lokey served as the exclusive financial advisor to Glen Dimplex throughout the transaction.

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