Page 32 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:45 AM Arçelik completes acquisition of Whirlpool's Moroccan and UAE subsidiaries and operations in MENA region
its footprint in the region
The brands we will offer in the MENA market through such acquisition are Whirlpool,

Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht, Privileg and Ignis

Istanbul, Turkiye- Today marks the completion of the transaction for Arçelik, Beko’s parent
company, to acquire full ownership of Whirlpool’s Middle East and North Africa (MENA)

operations. Through this acquisition, Arçelik now owns Whirlpool’s UAE and Morocco

entities, and manages Whirlpool's MDA business operations in the MENA region.

With the integration of Whirlpool’s MENA business, Arçelik achieves another significant

milestone in its transformative growth journey, reaffirming its standing as a leading global
provider of sustainable home appliances, as part of its commitment to growth and

delivering market-leading products and services to consumers and partners.

By leveraging Arçelik’s deep industry expertise in combination with Whirlpool's regional
infrastructure and market presence, Arçelik aims to solidify and expand its footprint in this

high-growth region. The brands Arçelik will offer in the MENA market through this
acquisition are Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht and

Ignis, while Whirlpool’s Insinkerator, KitchenAid, Maytag business are excluded, and

Whirlpool and Ariston are limited to licensee in the certain jurisdiction.

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, emphasising

quality, durability, and sustainability. We will continue to prioritise 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.”

On the April 2, 2024, Arçelik announced the successful completion of the definitive
Contribution Agreement between Arçelik’s wholly owned subsidiary Beko B.V. and

https://www.zawya.com/en/press-release/companies-news/arcelik-completes-acquisition-of-whirlpools-moroccan-and-uae-subsidiaries-and-operations… 2/3