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- The launch strengthens Arçelik's position as one of the world leaders in the home appliance industry.
- Beko Europe stems from the completion of the transition with Whirlpool in Europe.
Today (April 2, ed.) marks the successful completion of the definitive agreement between Arçelik's wholly owned subsidiary Beko B.V. and Whirlpool Corporation's wholly owned subsidiary Whirlpool EMEA Holdings LLC, and the formation of Beko Europe.
The completion also completes the final agreement for Arçelik to take full ownership of Whirlpool's Middle East and North Africa (MENA) operations in a separate transition.
Based on 2023 production volumes, the combined market share of Whirlpool's European operations for large household appliances and Arçelik's operations for large household appliances, consumer electronics, air conditioning and small household appliances, or Beko Europe, is the largest in Europe. Beko Europe has more than 20,000 employees and a production capacity of about 24 million household appliances a year spread across 11 production sites. 75% of the newly formed company is owned by Beko B.V. and 25% by Whirlpool Corporation.*
Globally, Arçelik will now have operations in 57 markets with about 55,000 employees. Arçelik's combined sales will be around EUR 11 billion based on 2023 results.** The company's annual production capacity will also increase significantly as the total number of production facilities reaches 45.
On the conclusion of the transition, Hakan Bulgurlu, CEO of Arçelik, said: "Over the past decade, we have set clear goals to drive business growth and transform our industry while adding value for our consumers, customers, employees and shareholders. Our growth has come from carefully executed acquisitions and pioneering joint ventures with leading companies, such as Singer in Bangladesh and Hitachi in Asia. The creation of Beko Europe and the acquisition of Whirlpool's assets in the MENA region mark another crucial milestone in Arçelik's journey and our tenth year of continuous growth. As one of the world leaders, with strong positions in fast-growing markets, we are today strengthening our capacity to be a force of progress and change, serving the planet and humanity."
In addition, Marc Bitzer, chairman and CEO of Whirlpool Corporation, said: "We are delighted to have reached this important moment by completing our transition with Arçelik to form Beko Europe. This milestone marks the beginning of an exciting new chapter in creating more value for European consumers through attractive brands, sustainable manufacturing, product innovation and consumer services. We look forward to the significant opportunities Beko Europe will bring to consumers in their ongoing pursuit of improving life at home."
CEO of Beko Europe Ragıp Balcıoğlu indicated: "Today marks the beginning of Beko Europe's mission to enable sustainable living in every European home. By combining our respective influences, we are achieving scale. Now it is essential that we work tirelessly to ensure that this scale meets the needs of our customers and consumers. We are committed to being a responsible partner to both industry and consumers, actively leveraging our leadership position in the market to raise standards, improve efficiency and drive innovation for a better future. By understanding the changing needs of our customers and consumers, we strive to advance the European home appliance industry towards a brighter, more competitive and environmentally friendly landscape. Our exceptional and highly complementary teams will play a crucial role in realizing this ambition."
Our story begins in 1955, at the time when white goods became a fixture in every household. Since then, we have become Europe's favorite brand of freestanding home appliances. For the past 20 years, we have focused on innovation to make our customers' lives easier and healthier. The ease of use and practical [...]
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