Page 51 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:47 AM Turkish group Arçelik acquires Whirlpool's Mena operations

Turkish group Arçelik acquires Whirlpool's Mena operations

ISTANBUL, 13 days ago
Arçelik, a Turkish multinational household appliances manufacturer, has announced that it has
acquired the full ownership of Whirlpool’s Morocco and Middle East and North Africa (Mena)
operations, thus marking a significant milestone in its growth strategy.

The parent company of consumer brand Beko, Arçelik said through this transaction, it 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 said it will work 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, it stated.

Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA, Russia & CIS, said: "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," he stated.

With this new integration, we are inching closer to our ambition to become the number one home
appliances company in the region, noted Garzanlı.

"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," he added.

Arçelik this week had announced the successful completion of the definitive contribution agreement
between its wholly owned subsidiary Beko BV and Whirlpool Corporation’s wholly owned unit
Whirlpool EMEA Holdings, resulting in the creation of Beko Europe.

Beko Europe’s 75 per cent shares are owned by Beko B.V and 25 per cent of shares are owned by
Whirlpool Corporation, said the company.

Arçelik, having accomplished these two significant milestones, will continue revolutionising the
industry, driving innovation, and delivering value to consumers worldwide, it added.-TradeArabia
News Service
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