Calcutta, Aug. 14 : Eveready Industries Ltd (EIIL), the B.M. Khaitan-controlled tea-and-battery major, is eyeing the prospect of buying out Gillette India's Geep brand. Top company sources said informal talks had been held but nothing concrete has yet emerged. Sources said EIIL is interested in the Geep brand for batteries and flashlights and not the manufacturing facility in Mysore. Deepak Khaitan, executive vice-chairman and managing director of EIIL, told The Telegraph over the phone from Chicago, 'There is a rumour in the market that Gillette might sell its Geep brand. I have heard of it. It is on my agenda. I will return to Calcutta in the third week of August and review the matter then.' The main sticking point in the talks has been the asking price for the Geep brand which is a popular one in northern India, both in the flashlight and the dry cell battery segments. Khaitan said, 'If the price is affordable, we will consider the proposal.' He refused to comment on the valuation of the Geep brand. Gillette India officials refused to say whether they were putting the Geep brand up for sale. If Eveready buys out the Geep brand, it will become the market leader in the flashlight segment, particularly in the brass torches segment. The company currently enjoys a 70 per cent marketshare and the acquisition of the Geep brand will raise that level to 90 per cent. Geep has a good penetration in the rural markets in north India. The Khaitans had earlier considered buying out Geep when it was controlled by the Sherwanis of Allahabad. Gillette had acquired the Geep brand name, distribution network and the dry cell manufacturing facility at Mysore at a price of more than Rs 100 crore. Last year, Gillette India closed down its Duracell alkaline battery making plant at Manesar near Gurgaon as the market for alkaline batteries came under pressure. Gillette India is now importing these batteries. Apart from batteries and flashlights, Gillette India manufactures and markets a range of shaving products and has a dominant position in the higher end disposable shaving preparations, shaving brushes and other men's toiletries such as after shaves. It also sells double-edged blades and twin blade shaving systems. EIIL enjoys a 43 per cent market-share in the battery segment. It manufactures rechargeables, alkalines (pencil, triple AAA) and carbon zinc batteries. Eveready is the market leader in flashlight production in the organised sector. It manufactures brass torches, aluminium and plastic torches. The company also imports top-end model of plastic torches from time to time for discerning urban customers. Other competitors in the market are Nippo and Salora. EIIL also exports batteries to Latin American countries and UK under the brand name Lava. The company is also test-marketing exports of flashlights under the Lava brand name.