January 2023 ertonline.co.uk


Arçelik joins forces with Whirlpool to form a brand new home appliances business for Europe


Products will be sold via a range of brands, such as Grundig, Flavel and


Leisure, part of Arçelik, alongside Whirlpool’s existing brands of Indesit, Hotpoint and Ignis plus others. The new entity will have regional brand rights for the Beko, Blomberg and Altus brands (of Arçelik) and for the Whirlpool brand for a period of 40 years. The business – which will have more than 20,000 employees – will have a combined production capacity of approximately 24 million appliance products per year, thanks to the shared functions across Whirlpool’s 38 European subsidiaries and nine production sites located in Italy, Poland, Slovakia and the UK, as well as Arçelik’s two production facilities in Romania and 25 European subsidiaries. The transaction is expected to close in the second half of this year and is subject to additional requirements for closing.


Turkish manufacturer, Arçelik, has signed a contribution agreement with Whirlpool Corporation to form a new standalone European home appliance business, with expected combined sales of over €6 billion. The new partnership will see Arçelik’s subsidiary Ardutch B.V. and Whirlpool EMEA Holdings LLC transfer their European subsidiaries to the new company – of which Arçelik will own 75 per cent and Whirlpool 25 per cent. The newly-formed company will manufacture and sell branded home appliances


– including refrigerators, washing machines and vacuum cleaners – through Arçelik’s contribution of its MDA, SDA, consumer electronics, and air conditioning businesses, as well as Whirlpool’s European MDA business.


Hakan Bulgurlu, CEO of Arçelik, said this is “a unique opportunity for two exceptional companies to come together”. “With today’s agreement, we are pleased to be creating a strong foundation to drive value creation for employees, shareholders, and European consumers of home appliance goods, extending Arçelik’s footprint with new growth opportunities in a very important region,” he said. Marc Bitzer, Chairman and CEO of Whirlpool Corporation, added: “This announcement marks yet another major and important milestone in our ongoing portfolio transformation. This allows us to participate in significant value creation from the repositioning of the business and cost synergies through our minority interest.”


Hisense celebrates a decade operating in the UK


Quantum Dot technologies, Hisense is a driving force in the world of technology and employs more than 100,000 people worldwide and includes 23 R&D centres and 29 production bases globally. The company has grown its brand presence in


Hisense is celebrating its 10th anniversary in the UK. Since bursting onto the scene a decade ago, the brand has a number of accolades under its belt, including ranking in the top five of TV manufacturers in terms of sales, as well as globally achieving the number one TV brand in China, Australia and South America. Indeed, Hisense reported that it enjoyed record-


breaking sales in 2021, which saw the brand generate a revenue of £21 billion worldwide, of which £111.7 million came from the UK market alone. As one of the leaders in laser display, ULED and


recent years by sponsoring a range of high-profile sporting events such as the UEFA Women’s Euros and FIFA World Cup Qatar 2022.


Arun Bhatoye, Head of Marketing at Hisense UK, said: “We always look to offer the biggest and best specifications across TV, refrigeration, laundry and cooking, ensuring we’re on the cutting edge of technology innovation.


“Over the last decade, Hisense has grown to become a leading household name in the UK. Our tried and tested high quality products offer customers fantastic functionality for the price, and thanks to our


sponsorship of the UEFA Euro tournaments as well as the 2022 World Cup, more and more customers are turning to Hisense.”


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