Page 57 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:48 AM PRESSR: Arçelik completes acquisition of Whirlpool's Moroccan and UAE subsidiaries and operations in MENA region — Trading…
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

https://www.tradingview.com/news/reuters.com,2024-04-04:newsml_ZawKfK8X:0-pressr-ar-elik-completes-acquisition-of-whirlpool-s-moroccan-and-u… 2/4