In the world of household appliances there is a curtain falling. Ends in fact the Whirlpool era in Europe. It's over after months of waiting the definitive transfer agreement between Beko BV, a Turkish household appliance brand, owned by the Arçelik e group Whirlpool EMEA Holdings LLC, a subsidiary of Whirlpool Corporation. It was born like this Beko Europe, new supplier of sustainable household appliances in Europe. The closing of the transaction was made possible after favorable ruling from the English Antitrust while the EU had already given the he said yes last October.
The closing also marks the completion of the definitive agreement with Arcelik to acquire full ownership of Whirlpool's operations in the Middle East and North Africa (Mena) in a separate transaction.
A new European leader in the household appliances sector is born
Beko Europe, positions itself as a industry leader in Europe. Based on the production volumes In fact, by 2023, the combined share of Whirlpool's European major appliances business and Whirlpool's major home appliances, consumer electronics, air conditioning and small appliances businesses Arcelik, It represents the largest presence on the European market.
The new company can count on over 20.000 employees and a production capacity of approximately 24 million household appliances per year, distributed across 11 production sites. Beko Europe is for 75% owned by Beko BV while the remaining 25% is owned by Whirlpool Corporation.
Arcelik consolidates its global presence
Globally, Arcelik expands its presence in 57 markets with approximately 55.000 employees. The company's overall turnover reaches around 11 billion euros, according to 2023 results. Furthermore, the annual production capacity will increase significantly as the total production facilities reach 45.
Bulgurlu, CEO of Arcelik: “Creation of Beko Europe is a milestone in our journey”
“We fixed clear objectives to grow our business and transform our industry over the past decade, all while delivering value to our consumers, our customers, our employees and our employees. shareholders. Our growth has been spurred by thoughtful acquisitions and innovative 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 MENA operations marks another key milestone in Arcelik's journey and our tenth year of continued growth. As one of the global leaders, with strong positions in mature and high-growth markets, today we strengthen our ability to be a force for progress and change, serving the planet and people” he commented Hakan Bulgurlu, CEO of Arcelik.
“We are delighted to reach this significant moment in the completion of our transaction with Arcelik to form Beko Europe. This milestone begins a exciting new chapter in creating greater value for European consumers through attractive brands, sustainable production, product innovation and consumer services. We look forward to the considerable opportunities that Beko Europe will unlock for consumers as they continually seek to improve their lives at home,” he said Marc Bitzer, president and CEO of Whirlpool corporation.
"Today is first day of the Beko Europe trip to establish a sustainable lifestyle in every home in Europe. By combining our respective footprints, we achieve scale, we must now work tirelessly to ensure that this scale serves the needs of our customers and consumers – the words of the CEO of the newly formed Beko Europe, Ragıp Balcıoğlu – We will be one responsible partner towards industry and consumers, actively using our market leading position to raise standards, address efficiency and drive innovation in pursuit of a better future.”
