Arcelik-Whirlpool marriage gives birth to a giant

subsidiaries of Arcelik, the THE EUROPEAN flagship of Koc Holding, and Whirlpool of the U.S. merged under the roof of a new joint company, Beko Europe. Established in the Netherlands, 75% of the company’s capital was allocated to Beko and 25% to Whirlpool. Whirlpool’s EMEA operations and 100% shares of its subsidiaries in the United Arab Emirates and Morocco were also transferred to Beko. The move made Beko (Arcelik) the number one white goods giant in Europe, with 121 subsidiaries, 22 brands, and 55,000 employees in 57 countries.

Beko Europe has turned into a company with 11 production facilities, a turnover of EUR 5.5bn, and 20,000 employees, according to company officials, Hakan Bulgurlu (Arçelik Global CEO) and Fatih Kemal Ebiclioglu (President of Durable Goods Companies at Koc Holding). Arcelik’s 2023 turnover target was set at EUR 10bn, but it has already reached EUR 11bn with the establishment of Beko Europe, they said in a gathering with press members.

With the merger, Whirlpool’s nine production facilities and 39 subsidiaries in Italy, Poland, the UK, and Slovakia were transferred to Beko Europe. Beko’s 30 subsidiaries in Europe and two production facilities in Romania were also assigned to the new company, reaching an annual production capacity of 24 million units.

Arcelik’s subsidiaries operating in Europe, such as Beko, Grundig, Arctic, Elektrabregenz, Flavel, Blomberg, Altus, and Leisure, and Whirlpool brands (Ariston, Indesit, Hotpoint, Ignis, Privileg, Polar, and Bauknecht), were transferred to Beko Europe.

TURKEY’S EXPORT CAPACITY TO RISE

“Beko Europe will benefit from the synergy created by the combination of Arcelik and Whirlpool’s brands, product portfolios, and sales channels,” said the company officials. “Thanks to this synergy, Turkey’s export capacity and visibility in the European market will increase significantly in the coming period. Our position in Europe’s home appliances sector will revitalize, and our efforts to achieve a more competitive and sustainable future will continue,” they added.

Arcelik Global CEO Hakan Bulgurlu stated that Arcelik’s washing machine plant in Cayirova, Kocaeli will be moved to Manisa. “We also expanded our operations by acquiring Whirlpool Corporation’s production facilities and commercial activities in Russia in 2022. We took action to strengthen our production network in Egypt, Bangladesh, and Pakistan through new investments. The white goods factory in Egypt, which we built with an investment of USD 100m and planned to open this year, will have a production capacity of 1.1 million units,” he added.

Hakan Bulgurlu, Arcelik Global CEO

“We took action to strengthen our production network in Egypt, Bangladesh, and Pakistan through new investments. The white goods factory in Egypt, which we built with an investment of USD 100m and planned to open this year, will have a production capacity of 1.1 million units.”