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Arçelik Completes Acquisition of Whirlpool Subsidiaries in Morocco and the United Arab Emirates
The Turkish company Arçelik, parent company of Beko, has announced the completion of the acquisition of Whirlpool's subsidiaries and operations in Morocco and the United Arab Emirates.
"With this acquisition, Arçelik now owns Whirlpool's entities in the United Arab Emirates and Morocco and manages Whirlpool's MDA commercial operations in the MENA region," states a press release from the company.
The brands that Arçelik will offer in the MENA market through this acquisition include Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht, and Ignis, while the activities of Whirlpool's Insinkerator, KitchenAid, and Maytag are excluded, and Whirlpool and Ariston are limited to a licensee in a given jurisdiction, according to the press release.
"I am delighted to see the successful completion of our strategic approach to acquire Whirlpool's operations in the MENA region. Arçelik is a leading global company in the home appliance industry with 55,000 employees and 45 production facilities. Soon, it will add a state-of-the-art plant in Egypt, which is about to operate, ready to bring innovation and excellence to the market. With this new integration, we are closer to our ambition of becoming the leading home appliance company in the region. We reaffirm our commitment to providing top-quality products to consumers in the MENA region, focusing on quality, sustainability, and durability. We will continue to prioritize the well-being of the planet and its inhabitants, and we will remain attentive to the needs of our consumers, communities, and employees while continuing to grow and evolve sustainably," said Akın Garzanlı, Marketing Director and Customer Director for the MEA, Russia, and CIS regions.
On April 2, Arçelik announced that the conclusion 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, resulted in the creation of Beko Europe. 75% of Beko Europe's shares are owned by Beko B.V., and 25% are owned by Whirlpool Corporation. Arçelik, having crossed these two important steps, will continue to revolutionize the industry, drive innovation, and bring value to consumers worldwide.