Whirlpool – Arcelik, there is an agreement for a new company in the EMEA area

A new company is born, made up of 75% by the Turks of Arçelik A.Ş and 25% by the Americans of Whirlpool dedicated to the European business of large household appliances. A giant with a 6 billion euro turnover, with over 200 million euro of cost synergies. This was announced today by the American multinational which has thus concluded the strategic review of its business activity in Europe, the Middle East and Africa (Eema), reaching the definitive contribution agreement with Arçelik A.Ş, which accelerates the transformation of the Whirlpool portfolio.

Whirlpool will have no obligation to provide financing to the new company after the closing of the transaction. “Today’s announcement marks another important and decisive milestone in the transformation of our portfolio,” said Marc Bitzer, president and chief executive officer of Whirlpool Corporation. This allows us to participate in significant value creation with business repositioning and cost synergies through our minority stake.”