Global presence
In a move to become one of the leading home appliance manufacturers, Arçelik has created a significant global presence through organic and inorganic growth. While there are some minor local brands in the portfolio, Arçelik can be recognized in most markets with its Beko brand.
EMEA Region
In 2002, Arçelik made a series of acquisitions to grow its presence in the EMEA region: German and Austrian operations of Groupè Brandt which owned Blomberg and Elektra Bregenz brands, UK-based Leisure and Flavel brands and Romanian appliance maker Arctic S.A.<r[14]<r[15]<r[16]
In 2004, Arçelik acquired German TV and home appliance maker Grundig in a partnership with Alba plc. In 2007, Arçelik became the sole-owner of the Grundig Multimedia B.V. and its eponymous brand.<re[17]<re[18]
To increase brand recognition, Beko became the sponsor of Watford F.C. during the 2007-2008 and the 2008–2009 seasons. Beko has also been among the sponsors of FC Barcelona since 2014.<re[19]
In 2011, Arçelik acquired South Africa’s largest appliance maker Defy from Franke for $327M.<re[20]
In 2022, Whirlpool Corporation has made a strategic review on its EMEA operations due to lower EBIT margins. This resulted in a series of transactions between Arçelik and Whirlpool.<re[21]
APAC Region
In 2015, Arçelik’s first plant in the region started production in Thailand. The plant has a production capacity of 300,000 units per year and is configured to the needs of the Southeast Asian market.<re[27]
In 2017, Arçelik acquired Pakistan’s Dawlance for $243M.<re[28]
In 2017, Arçelik and Tata Group has announced a new partnership. Arçelik and Voltas will form a joint-venture in India named Voltbek Home Appliances Ltd. This entity will provide manufacturing, sales, and after-sales services for VoltasBeko branded home appliances (refrigerators, washing machines microwaves, etc.) in India. The partners set an ambitious target to reach $1B revenue and exceed 10% market share in the Indian market over ten years.<re[29]
In 2019, Arçelik acquired a 57% stake in Singer Bangladesh for $75M.<re[30]
In 2021, Arçelik and Hitachi Global Life Solutions has announced a new partnership. Hitachi GLS will transfer 11 subsidiaries outside Japan (two manufacturing and nine sales companies) into Arçelik Hitachi Home Appliances B.V. and sell a 60% stake in this entity to Arçelik for $343M. This entity will provide manufacturing, sales, and after-sales services for Hitachi branded home appliances (refrigerators, washing machines and vacuum cleaners, etc.) outside Japan.<re[31]<re[32]
- 1) Arçelik acquired Whirlpool’s operations in the Middle East and Africa for €20M.
- 2) Arçelik acquired Whirlpool’s Turkish manufacturing plants for €78.3M. These plants have an annual production capacity of 1.3 million freezers and 1.4 million washing machines.<re[22]
- 3) Arçelik acquired Whirlpool’s operations in Russia and several other Commonwealth of Independent States (CIS) countries on the wake of Russian invasion of Ukraine. Arçelik is expected to make a series of deferred payments over a 10-year period capped at €220M, based on the net asset value of the business.<re[23]
- 4) Arçelik and Whirlpool decided to merge their European operations under one entity Beko Europe, which will be held 75% by Arçelik and 25% by Whirlpool. This new entity will have 11 plants across Italy, UK, Poland, Romania and Slovakia. Bauknecht and other brands are now subordinate to Beko.<re[24]<re[25]<re[26]
