Arçelik Anonim Şirketi (OTCPK:ACKAY, BİST:ARCLK) Company Profile
Arçelik Anonim Şirketi (OTCPK:ACKAY, BİST:ARCLK) was established in 1955. It is a Turkish multinational home appliance manufacturer, holding an important position in the global home appliance market. It has continuously expanded its business through multiple acquisitions and completed a business merger with Whirlpool in 2024.
1. Company Introduction
Arçelik AS was founded in 1955, with its headquarters located in Istanbul, Turkey, and it has 41,042 full-time employees. The company and its subsidiaries are engaged in the production, marketing, sales, service provision, import, and export of durable consumer goods and electronic products in Turkey and internationally.
Official Website: https://www.arcelik.com.tr/
2. Main Business Segments
1. White Goods: Provides top-loading and front-loading washing machines, horizontal and vertical freezers, split air conditioners, microwave ovens, water dispensers, cooking appliances, washing machines, dishwashers, coolers, gas and/or rice cookers, refrigerators, coffee machines, washing and laundry dryers, range hoods, and built-in cooking products.
2. Consumer Electronics: Provides televisions, computers, cash registers, and other electronic devices.
3. Technological and Business Advantages
1. Multiple Brands: Offers products under multiple brands such as Arçelik, Beko, Grundig, Defy, Arctic, Dawlance, Elektrabregenz, Blomberg, VoltasBeko, Leisure, Altus, and Flavel to meet the needs of different markets and customers.
2. Extensive Business Network: Its business spans more than 100 countries globally. It has over 4,500 branches in Turkey, conducts global business through 13 international subsidiaries, and has 15 production factories in Turkey, Romania, Russia, China, South Africa, and Thailand, ensuring product supply and market coverage.
3. Market Position: With the Arçelik and Beko brands, it has become a market leader in the home appliance sector in Turkey. It is the fourth-largest home appliance company in Europe and has been rated as "Number One in the Private Sector" multiple times in the "Top 500 Industrial Enterprises in Turkey" survey.
4. Development History
| Time | Key Events |
|---|---|
| 1955 | Founded by Lütfü Doruk and Vehbi Koç |
| 1959 | Produced the first washing machine and the first refrigerator at the manufacturing factory in Çayırova, Istanbul, entering the large home appliance industry in Turkey |
| 1968 | Relocated to the factory in Çayırova near Istanbul |
| 1975 | Opened the Eskişehir refrigerator factory |
| 1979 | Opened the İzmir vacuum cleaner factory |
| 1993 | Opened the Ankara dishwasher factory |
| 1999 | Established Ardem Company to produce cooking appliances and brought two companies, Türk Elektrik Endüstrisi A.Ş. and Atılım ve Gelişim Pazarlama A.Ş., under its umbrella |
| 2001 | Took over the marketing and sales activities of Beko products, and centralized the management of production and sales/marketing activities to improve productivity |
| February 27, 2009 | Arçelik A.Ş. and Grundig Elektronik A.Ş. merged |
| 2016 | Acquired Pakistani home appliance manufacturer Dawlance for $258 million |
| 2019 | Acquired a 57% stake in Bangladeshi home appliance manufacturer Singer Bangladesh Limited for $75 million |
| December 2020 | Hitachi Global Life Solutions Inc. sold a 60% stake in its overseas home appliance business to Arçelik for $300 million |
| April 2, 2024 | Whirlpool Corporation completed the transaction with Arçelik A.Ş., merging the major home appliance businesses in Europe. Whirlpool owns a 25% stake in the new entity Beko Europe B.V., and Arcelik owns a 75% stake |
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