Page 30 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:52 AM Arçelik has acquired Whirlpool's MENA operations - NewsnReleases
Arçelik has acquired Whirlpool’s MENA operations

NNR April 3, 2024

ISTANBUL: Arçelik, the parent company of consumer brand Beko, has completed the acquisition of Whirlpool’s operations in
the Middle East and North Africa (MENA), marking a pivotal point in its expansion strategy.

This acquisition sees Arçelik taking ownership of Whirlpool’s entities in the UAE and Morocco, as well as overseeing
Whirlpool’s Major Domestic Appliance (MDA) business across the MENA region.
The merger combines Arçelik’s extensive industry experience with Whirlpool’s established regional infrastructure and market
know-how, aiming to strengthen and broaden Arçelik’s reach in the MENA market.
The brands set to be offered through this acquisition include Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht,
Privileg, and Ignis, with certain limitations on Whirlpool and Ariston in specific jurisdictions.
Further cementing its global presence, Arçelik has also announced the formation of Beko Europe, following the definitive
Contribution Agreement between Arçelik’s subsidiary Beko B.V. and Whirlpool Corporation’s subsidiary Whirlpool EMEA
Holdings LLC. Beko Europe, which will be 75% owned by Beko B.V. and 25% by Whirlpool Corporation, represents another
significant step in Arçelik’s journey to innovate and deliver value in the sustainable home appliance sector worldwide.

Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA, Russia & CIS, expressed his excitement and
confidence regarding the transaction, stating: “I am delighted to witness the successful completion of our strategic move to
acquire Whirlpool’s MENA operations.

Arçelik is a leading global company in the home appliance industry with 55,000 employees and 45 production facilities. Soon,
it will be adding a state-of-the-art factory in Egypt, which stands on the cusp of operation, ready to bring innovation and
excellence to the market. With this new integration, we are inching closer to our ambition to become the number one home
appliances company in the region.

We reaffirm our dedication to delivering top-tier products to MENA consumers, emphasizing quality, durability, and
sustainability. We will continue to prioritize the well-being of both the planet and its people, and remain attentive to the needs
of our consumers, communities, and employees as we continue to grow and evolve sustainably.”

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