Videocon Group on Thursday signed an agreement with AB Electrolux to acquire the Swedish company's entire 91.85 per cent stake in Electrolux Kelvinator Ltd.

Videocon will now take over the three manufacturing facilities of Electrolux Kelvinator in India at Shahjanpur (Rajasthan), Warora (Maharashtra) and Butibori (Maharashtra).

Under a separate licensing agreement with AB Electrolux, the Videocon Group will distribute products under 'Electrolux' and the 'Kelvinator' brands in India. This makes Videocon India's No.1 Home Appliances Company.