Page 43 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:46 AM Arçelik Completes Acquisition Of Whirlpool's Moroccan And UAE Subsidiaries And Operations In MENA Region | MENAFN.COM
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.”

https://menafn.com/1108059466/Arçelik-Completes-Acquisition-Of-Whirlpools-Moroccan-And-UAE-Subsidiaries-And-Operations-In-MENA-Region 2/3