Acquisition closed
Arçelik acquires Indesit and Hotpoint
Whirlpool contributed its European major domestic appliance business into a new company with Arcelik called Beko Europe, keeping a 25 per cent interest in it, and separately sold its Middle East and North Africa business to the same buyer. The effect was to hand a Turkish manufacturer control of Indesit, Hotpoint in Europe and Bauknecht, and to move Whirlpool from owning a European business to licensing its own name back to the company that now runs one: it agreed a multi-year licence of the Whirlpool brand to Beko Europe for European sales.
