Eureka Forbes Explained

Eureka Forbes
Type:Public
Industry:Home appliances
Location:Mumbai, Maharashtra, India
Key People:Pratik Pota

Eureka Forbes Limited is an Indian multinational home appliances company based in Mumbai. It makes water purification devices, vacuum cleaners, air purification systems, and home security products.[1]

History

Eureka Forbes was founded in 1982 as a 60:40 joint venture between Tata Group's Forbes & Company and Swedish manufacturer Electrolux. In 2001, Tata Group sold Forbes & Company to Shapoorji Pallonji Group and, four years later, Electrolux sold its 40% stake in Eureka Forbes to Forbes & Company.[2]

In 2010, Eureka Forbes acquired a 25% stake in Swiss consumer products company Lux International. In 2013, Eureka Forbes increased its stake to become the controlling shareholder in Lux International.[3]

In 2022, Advent International bought out Shapoorji Pallonji Group's entire stake in Eureka Forbes, after Eureka Forbes was separated from Forbes & Company and listed on the BSE.[4] [5]

Corporate Social Responsibilities

In 2000, the Eureka Forbes Institute of Environment (EFIE) was founded. It is a registered public charitable organization that creates and supports social initiatives.[6]

Eureka Forbes in association with National Society for Equal Opportunities for the Handicapped NASEOH launched EuroAble, a call center manned by people with special needs.[7] It is also involved with 'Nana Nani Parks', which provides recreational facilities for senior citizens,[8] and has worked with World Vision to provide water filter units for free drinking water kiosks in public places. They also have initiated the 'Jagrut MumbaikarJagrut Mumbaikar' program, with the police and fire brigade, which provides self-help information for citizens.[9]

Awards and recognition

Notes and References

  1. News: SP Group looks at listing or stake-sale of Eureka Forbes . 17 February 2023 . The Times of India . 20 November 2019.
  2. News: Coster . Helen . Every Salesman a King . 17 February 2023 . Forbes . en.
  3. News: Mitra . Sounak . Eureka Forbes to acquire majority stake in Lux International . 17 February 2023 . Business Standard India . 15 May 2013.
  4. News: Shapoorji Pallonji and Co exits from Eureka Forbes . 17 February 2023 . The Economic Times . 14 July 2022.
  5. News: PE major Advent International buys majority stake in Eureka Forbes . 1 October 2021 . Business Standard.
  6. Web site: Friends of Environment - Eureka Forbes . 8 August 2017 . https://web.archive.org/web/20161223062340/http://www.eurekaforbes.com/We-care/Friends-of-Environment . 23 December 2016 . dead .
  7. News: Mumbai gets call centre with a heart | Mumbai News - Times of India. The Times of India. April 2011 .
  8. Web site: ENARR : NanaNani Foundation. www.enarr.com.
  9. Web site: Jagrut Mumbaikar. 4 March 2009 .
  10. Web site: Nitesh. Aquaguard rules yet again at the UNESCO Water Digest Awards 2011-2012. Glamgold. 23 January 2012. 21 February 2017. 22 February 2017. https://web.archive.org/web/20170222054721/http://glamgold.com/aquaguard-rules-yet-again-at-the-unesco-water-digest-awards-2011-2012/. dead.
  11. Web site: Kurian. Anu. Top 25 Best Workplaces in Asia: Eureka Forbes. People Matters. 12 May 2015.

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