With an investment of $248 million, A leading Turkish home appliances manufacturing company Arçelik formally announced the acquisition of Dawlance Pakistan.
Hakan Bulgurlu, the CEO of Arçelik speaking to the media persons at a hotel said that we are pleased to expand our global outreach by adding Pakistan’s leading home appliances brand into our group and we welcome all our Dawlance colleagues to Arçelik family. He further said that the acquisition of Dawlance was a significant milestone that consolidated Arçelik growth strategies in the region since Pakistan was a promising market with a population of approximately 200 million people and an increasingly growing economy.
It was first disclosed on June 30 (EP reported). Arçelik announced that it had obtained all required approvals from regulatory bodies and completed the closing transaction of Dawlance. The share transfer was completed on 2 November 2016.
Arçelik operates from Europe to Middle East and Africa to Asia and is progressing steadily on a global path,” he said, adding that the company had enormous investments in developing efficient appliances. He said that by transferring Arçelik’s technology know-how and innovation capabilities, they would invest in Dawlance to develop the business.
Bulgurlu said that after this acquisition, Arçelik was now one big family with 11 brands, 18 manufacturing facilities in seven countries including Turkey, Russia, Romania, China, South Africa, Thailand and Pakistan, with a total workforce of 30,000 people across the world.
He said that now Arçelik would enjoy relatively stronger position and capabilities to compete more effectively and profitably in the global marketplace.
Arçelik will enhance strength of Dawlance focusing on brand awareness, extensive distribution, sales and service network, professional management and competent workforce. He added that Arçelik was eager to present its innovative and resource-efficient products to Pakistani consumers.
Hassan Jamil, Dawlance’s head of marketing said a new and exciting period lied ahead for all of them as he was confident that this combination would bring together great synergies and opportunities for Dawlance, to grow together as part of a larger and global organization.
Arçelik operates in 130 countries, and manages 11 core brands Arçelik, Beko, Grundig, Dawlance, Defy, Arctic, Blomberg, Elektrabregenz, Leisure, Flavel and Altus, with sales and marketing offices in 31 countries. The company has 18 manufacturing facilities in Turkey, Russia, Romania, China, South Africa, Thailand and Pakistan.
In the international arena, Arçelik Group is the third largest player in its industry across Europe. Arçelik recorded a consolidated turnover of US$5.2 billion in 2015, the highest in its history. 60 percent of this amount was generated through international sales.
Arçelik holds the leading R&D position in its sector in Turkey thanks to a total of 11 R&D Centers in 4 countries, more than 1000 R&D staff, and more than 2000 patent applications.
