Home appliances company Arcelik signed an agreement to acquire the U.S. based white goods company Whirlpool’s enterprise in Manisa, Whirlpool Beyaz Esya Sanayi ve Ticaret AS, for EUR 78.3m. Whirlpool Beyaz Esya Sanayi ve Ticaret AS has two production plants and a storage area on a total area of 245,000 square meters including 134,000 square meters of indoor area. The purchase will be completed after relevant authorities’ approval following the fulfilment of closure conditions. Whirlpool manufactures cooler and washing machine at its production center.
Arcelik will export to Whirlpool’s branches in Europe for three years from these facilities, which have an annual production capacity of 2.7 million units. The number of Arcelik’s production plants has reached 10 with the acquisition, while the company will add 1,000 people to its total employment.
The growth-driven strategy
The acquisition was a step in line with the company’s strategic growth vision, according to Hakan Bulgurlu, CEO of Arcelik. Within the scope of Arcelik’s growth-driven development, the company aims to relocate its production technologies and good practices to the new facility in Manisa and to protect its existing sources. “We’ll determine a roadmap in order to use production plants and storage area in a more effective and growth-driven way after we complete feasibility studies,” said Bulgurlu.
Arcelik operates in more than 145 countries with its 12 brands and 22 facilities in 8 countries. The company totally invested TRY 6.8bn in the last 5 years. “We focus on technology development and improvement of our competences without being foreign-dependent with these investments,” said Arcelik CEO.