Arçelik has signed an agreement to acquire Whirlpool's European manufacturing, sales, and marketing subsidiaries to strengthen its position as a leading global appliance manufacturer.

Target Information

Arçelik, a leading global appliance manufacturer with a workforce of 45,000 employees across 30 production facilities in 53 countries, has taken a significant step towards global expansion by signing a deal to acquire the European manufacturing, sales, and marketing subsidiaries of Whirlpool, one of the world's foremost appliance makers. This transaction is expected to consolidate Arçelik's position in the white goods sector worldwide, marking the inception of an innovative and sustainable leader in the industry.

The agreement between Arçelik, its wholly-owned subsidiary Ardutch B.V., and Whirlpool Cooperation, alongside its ownership of Whirlpool EMEA Holdings LLC, will see the stakes of all associated entities operating in Europe combined under a newly established company based in the Netherlands. Arçelik will hold a 75% majority stake in this new entity, which will be finalized based on specific financial metrics, including end-of-year EBITDA and net fixed asset valuations for 2022.

Industry Overview

The European home appliance industry is characterized by intense competition and a constant push towards innovation and sustainability. As consumers increasingly prioritize energy efficiency and product durability, companies are exploring n