Indesit Company

Indesit Company S.p.A. was an Italian manufacturer and distributor of household appliances based in Fabriano, in the province of Ancona. The business was established in 1975 as Merloni Elettrodomestici, a spin-off from Industrie Merloni under the leadership of Vittorio Merloni. It developed from a predominantly Italian appliance producer into one of Europe’s larger manufacturers of cooking, refrigeration, laundry and related domestic products. A decisive stage in its development came in 1987, when the publicly listed Merloni Elettrodomestici acquired Indesit, a Turin-founded appliance company that had become one of its principal Italian competitors. The acquired name became increasingly important outside Italy, and the group eventually adopted Indesit Company as its corporate name in 2005. The company also expanded through acquisitions and investments involving Philco Italy, Scholtès, STAR, Stinol, GDA and Sinudyne. These transactions broadened its geographic reach, product portfolio and brand ownership, particularly in the United Kingdom, France and Russia. The group managed several appliance brands, including Indesit, Ariston, Hotpoint-Ariston, Scholtès, Stinol and Termogamma. Its portfolio covered major domestic appliances such as washing machines, tumble dryers, dishwashers, refrigerators, freezers, cookers, ovens, hobs and kitchen ventilation products. In 2012 it also announced an entry into small domestic appliances and entered a supply arrangement with Waterlogic for advanced water-purification devices. Indesit’s manufacturing footprint included facilities in Italy, Poland, the United Kingdom, Russia and Turkey. The company reported approximately 16,000 employees and eight industrial sites in the period before its acquisition. Its expansion was accompanied by restructuring: plants in France, Wales and several Italian locations were closed or consolidated as the European appliance market became more competitive and demand weakened in certain categories. In 2014 Whirlpool agreed to acquire a 60 percent stake from the Merloni family for €758 million. Whirlpool subsequently completed control of the group, and Indesit was removed from the Milan stock exchange in December 2014. In 2016 Indesit Company was merged into Whirlpool Europe, which was renamed Whirlpool EMEA. Indesit therefore ceased to operate as an independent corporate group, although the Indesit name continued as an appliance brand within Whirlpool’s European portfolio. The historical company is also associated with public scrutiny after a police investigation in 2017 identified an Indesit-made Hotpoint FF175BP refrigerator-freezer as a possible source in the Grenfell Tower fire investigation; the appliance model had been discontinued before that investigation.

Indesit Company began in 1975 as Merloni Elettrodomestici, created by Vittorio Merloni as a separate business from Industrie Merloni. The company entered a difficult period in the early 1980s, but performance improved after Vittorio Merloni returned to management in 1984. Rising revenue and profits helped convince the Merloni family to pursue a public listing, which took place in 1987. That same year, Merloni acquired Indesit, an appliance maker founded in Turin in 1953 by Armando Campioni, Adelchi Candellero and Filippo Gatta. The acquisition strengthened Merloni’s position in Italy and gave it a better-known international brand. During the late 1980s and 1990s, the group expanded through acquisitions and minority investments. It acquired French manufacturer Scholtès in 1989, took a stake in STAR in 1995 and later acquired that company in full, and expanded its interests in Philco Italy and the Russian manufacturer Stinol. In 1990 the Marcegaglia Group acquired a minority holding in Merloni Elettrodomestici. The company’s international development accelerated in the 2000s. In 2000 it acquired Stinol and the remaining capital of Philco. In 2002 it acquired a 50 percent interest in GDA, the British appliance group associated with Hotpoint. The transaction received European Commission authorization and made Merloni one of Europe’s leading appliance producers while strengthening its position in the United Kingdom. The same year, the group entered consumer electronics by acquiring Sinudyne. Merloni Elettrodomestici adopted the Indesit Company name in 2005 because Indesit was the group’s most recognizable brand in many markets outside Italy. The group subsequently reorganized its portfolio, launching a new architecture in 2007 and bringing Hotpoint and Ariston together in the Hotpoint-Ariston identity. Its portfolio also included Ariston, Scholtès, Stinol and Termogamma. Manufacturing and employment were spread across Italy and several foreign markets. The company operated sites in Italy, Poland, the United Kingdom, Russia and Turkey and employed about 16,000 people in the period described by its corporate history. Competitive pressure and declining demand led to restructuring. The Thionville site in France closed in 2005, the Kinmel Park plant in Wales closed in 2009, and the company announced further Italian site closures in 2010 while committing €120 million to consolidate its Italian industrial presence over the following three years. The business also pursued consumer marketing and adjacent product categories. It signed sponsorship agreements with Arsenal in 2011, announced a move into small domestic appliances in 2012 and entered a supply agreement with Waterlogic for water-purification equipment. In 2013 Marco Milani became chairman while continuing as chief executive. The company reported reaching the maximum A+ application level in its sustainability report referring to 2012. Whirlpool agreed in 2014 to buy 60 percent of Indesit from the Merloni family for €758 million. Following the transaction, Indesit was delisted from Borsa Italiana on 3 December 2014. In 2016 Indesit Company merged with Whirlpool Europe, which was renamed Whirlpool EMEA. The independent corporate entity consequently ended, although Indesit and related appliance brands remained part of Whirlpool’s European brand and product structure. In 2017 a police investigation into the Grenfell Tower fire examined an Indesit-manufactured Hotpoint FF175BP refrigerator-freezer as a possible ignition source; the model had been produced between 2006 and 2009 and was no longer in production.

1. 2016Merger into Whirlpool EMEA

   Indesit Company merges with Whirlpool Europe, which adopts the Whirlpool EMEA name.

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2. 2014Whirlpool acquires control

   Whirlpool agrees to acquire a 60 percent stake in Indesit from the Merloni family for €758 million.

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3. 2010Italian industrial restructuring

   Indesit announces €120 million of investment in Italy over 2010–2012 alongside two Italian plant closures.

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4. 2009Closure of Kinmel Park plant

   The company closes its appliance factory at Kinmel Park in Bodelwyddan, Wales.

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5. 2007Hotpoint-Ariston brand architecture

   Hotpoint and Ariston are combined under a revised Hotpoint-Ariston identity in the group’s brand system.

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6. 2005Corporate renaming

   Merloni Elettrodomestici changes its name to Indesit Company.

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7. 2002Entry into Hotpoint and consumer electronics

   Merloni acquires half of GDA, associated with Hotpoint, and buys Sinudyne to enter consumer electronics.

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8. 2000Philco and Stinol expansion

   The company takes full control of Philco Italy and acquires Stinol, a leading Russian appliance producer.

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9. 1989Scholtès acquisition

   The group acquires French appliance manufacturer Scholtès.

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10. 1987Public listing and Indesit acquisition

    Merloni Elettrodomestici becomes publicly listed and acquires Indesit, a major Italian competitor.

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11. 1975Merloni Elettrodomestici is founded

    Vittorio Merloni establishes Merloni Elettrodomestici as a spin-off from Industrie Merloni.

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Mass-market and mid-market European household appliances, supported by a multi-brand strategy spanning value-oriented laundry and kitchen products, established national brands and selected premium offerings.

• Indesit laundry appliancesGarment care

  The Indesit brand was strongly associated with practical household laundry equipment, including washing machines, tumble dryers and washer-dryers. These products served the mainstream European market and formed a central part of the group’s original appliance portfolio.

• Indesit kitchen and refrigeration appliancesMajor domestic appliances

  The portfolio included refrigerators, freezers, cookers, ovens, hobs, dishwashers and kitchen ventilation products. The range supported Indesit Company’s multi-category strategy and its distribution across European national markets.

• Hotpoint and Hotpoint-AristonMajor domestic appliances2007

  Hotpoint was brought into the group through the 2002 GDA transaction. From 2007, Hotpoint and Ariston were coordinated under a Hotpoint-Ariston brand architecture covering household appliances, particularly in European markets.

• ScholtèsPremium kitchen appliances1989

  Scholtès was a French appliance brand acquired by Merloni in 1989. It gave the group a more premium and design-oriented presence in kitchen appliances alongside its mass-market brands.

• StinolRefrigeration2000

  Stinol, acquired in 2000, was a Russian household-appliance manufacturer known primarily for refrigeration products. Its acquisition strengthened Indesit Company’s manufacturing and commercial position in Russia.

• Small domestic appliancesSmall domestic appliances2012

  In 2012 the company announced an expansion beyond its traditional major-appliance categories into small domestic appliances, broadening its potential consumer offering.

• 2011Arsenal sponsorship

  United Kingdom · Europe

  Indesit signed sponsorship agreements with Arsenal Football Club to increase consumer visibility for its appliance brands in the United Kingdom and wider European markets.

  Outcome. The agreement supported brand exposure; the cited reference does not specify its financial terms or long-term outcome.

  Source

• 2014Sell control to WhirlpoolM&A

  Whirlpool sought to expand outside its United States home market, while Indesit remained a major appliance group in Italy, the United Kingdom and Russia.

  What changed. Whirlpool agreed to acquire a 60 percent stake from the Merloni family for €758 million.

  Aftermath. Indesit was delisted from Borsa Italiana in December 2014 and later merged into Whirlpool EMEA in 2016.

  Purchase price for 60 percent stake. €758 million (2014 transaction)

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• 2010Invest in Italy while consolidating productionStrategy

  The company was restructuring its European manufacturing network amid market pressure and changing demand.

  What changed. Indesit announced €120 million of investment in Italy over 2010–2012 while closing plants in Brembate and Refrontolo.

  Aftermath. The decision aimed to consolidate the company’s Italian industrial base, although the cited material does not provide a complete employment or financial outcome.

  Planned investment. €120 million planned (2010–2012)

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• 2007Create the Hotpoint-Ariston brand architectureStrategy

  The group owned both the Hotpoint and Ariston names after its expansion into the British appliance market and related product categories.

  What changed. Indesit Company reorganized its brand architecture and combined Hotpoint and Ariston under the Hotpoint-Ariston identity.

  Aftermath. The move simplified the presentation of two established brands in relevant markets.

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• 2005Adopt the Indesit Company corporate nameStrategy

  Indesit had become the group’s best-known name outside Italy following the 1987 acquisition.

  What changed. Merloni Elettrodomestici changed its corporate name to Indesit Company.

  Aftermath. The renaming aligned the corporate identity with the group’s most internationally recognizable appliance brand.

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• 2017Hotpoint FF175BP examined after Grenfell Tower fireControversy

  A police investigation into the Grenfell Tower fire identified an Indesit-made Hotpoint FF175BP refrigerator-freezer, produced between 2006 and 2009, as a possible source of the fire. The model had already been discontinued. The cited material describes an investigative finding, not a final legal determination of corporate liability.

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• 2014Whirlpool agrees to acquire control of Indesit

  Whirlpool agreed to pay €758 million for a 60 percent stake from the Merloni family, expanding its European appliance operations.

  M&A
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• 2014Indesit is delisted from Borsa Italiana

  Following Whirlpool’s acquisition, Indesit Company left the Milan stock exchange on 3 December 2014.

  M&AOther
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• 2013Marco Milani becomes chairman and chief executive

  Marco Milani was appointed group chairman while retaining the chief executive role.

  Leadership change
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• 2012Indesit expands into small domestic appliances

  The group announced its entry into the small domestic-appliance market and also agreed to supply Waterlogic with advanced water-purification devices.

  Product launch
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• 2011Indesit signs Arsenal sponsorship agreement

  Indesit entered sponsorship arrangements with Arsenal Football Club as part of its consumer-facing marketing activity.

  Campaign
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• 2010Indesit announces Italian investment and site closures

  The company announced a planned €120 million investment in Italy over 2010–2012 alongside the closure of plants in Brembate and Refrontolo.

  Other
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• 2009Indesit closes Welsh appliance plant

  The Kinmel Park facility in Bodelwyddan, Wales, was closed amid a continuing decline in the relevant market, affecting approximately 305 workers.

  Other
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• 2007Hotpoint and Ariston unified under new brand architecture

  The group reorganized its brand structure and combined Hotpoint with Ariston to form Hotpoint-Ariston in many markets.

  Product generation
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• 2005Merloni adopts the Indesit Company name

  Merloni Elettrodomestici changed its corporate name to Indesit Company, reflecting the international recognition of the Indesit brand.

  Other
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• 1987Merloni Elettrodomestici acquires Indesit

  The listed Merloni appliance group acquired Indesit, a major Italian rival with an international presence.

  M&A
  Source

1. Indesit
2. Indesit Company official website