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4/18/24, 11:51 AM Arçelik acquires Whirlpool’s Middle East and North Africa (MENA) operations - Trendtype

Arçelik acquires Whirlpool’s Middle East

and North Africa (MENA) operations

Apr 5, 2024

Arçelik, Beko’s parent company, has acquired Whirlpool’s Middle East and North Africa (MENA) operations. Arçelik now
owns Whirlpool’s UAE and Morocco businesses and manages Whirlpool’s major domestic appliance (MDA) business in
the MENA region.

In January 2023, Whirlpool entered into an agreement with Arçelik to form a European major domestic appliance (MDA
business (Beko Europe) that is expected to create over €6bn in revenues. Under the agreement, Whirlpool contributes
European MDA business and Arcelik contributes its MDA, consumer electronics, air conditioning, and small domestic
appliance businesses into the new entity, of which Whirlpool will own 25% and Arçelik 75%. At the same time, Whirlpoo
agreed in principle to sell its Middle East and Africa business to Arçelik but retain ownership of its EMEA KitchenAid sm
domestic appliance business.

As a result of the acquisition of the Whirlpool MENA business, Arçelik aims to expand its footprint in the Middle East an
North Africa. The brands Arçelik can sell include Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht and
Ignis. Whirlpool’s Insinkerator, KitchenAid and Maytag brands are not included. Whirlpool and Ariston are limited to
licensees in some countries.

Arçelik will soon open an industrial plant near Cairo to manufacture refrigerators and ovens, which was originally planne
to launch in Q3 2023. The $100m factory will have a production capacity of 1.5m appliances annually and will create
2,000 direct jobs. 60% of the Egyptian factory output in Egypt is designed to be for exports.

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