Arçelik has signed an agreement to acquire the Whirlpool branch in Turkey, for an amount of € 78.3 million which also includes the sale of a refrigerator and washing machine manufacturing plant in Manisa, western Turkey, with an annual production capacity of 2.7 million units and about 1000 employees in a total area of 245,000 square meters. The transaction is subject to regulatory approval and should be completed by 1 July 2021. “With the acquisition of Whirlpool Turkey’s business – commented Hakan Bulgurlu, CEO of Arçelik – we are taking an important step to further strengthen our presence in Europe and Turkey with a further increase in our production capacity. We are also establishing an important strategic business relationship with Whirlpool which will open up export opportunities in new markets. We will also welcome 1,000 new colleagues into our ‘family’ and our production network in Turkey will be even more diversified. Manisa is logistically a key location for both exports and proximity to a large and well-functioning ecosystem of suppliers. This investment will allow us to better respond to the strong demand in our sector. Our advanced production technologies, innovative products and great attention to every aspect of sustainability will be further enhanced with new cost and revenue synergies”.
