Friday 24 May 2024
 
»
 
»
Story

Akın Garzanlı

Arçelik completes Whirlpool Moroccan and UAE units buy

ISTANBUL, April 5, 2024

Arçelik, Beko’s parent company, has acquired 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.
 
State-of-the-art factory 
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. 
 
“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 Whirlpool Corporation’s wholly owned subsidiary Whirlpool EMEA Holdings LLC, resulting in the creation of Beko Europe. Beko Europe’s 75% shares are owned by Beko B.V and 25% of shares are owned by Whirlpool Corporation. Arçelik, having accomplished these two significant milestones, will continue revolutionising the industry, driving innovation, and delivering value to consumers worldwide.--TradeArabia News Service
 



Tags:

calendarCalendar of Events

Ads