Arçelik acquires Pakistan's Dawlance for $243.2 million
Koç Holding's home appliance maker Arçelik has completed the acquisition of Dawlance, Pakistan's market-leading home appliances maker, worth $243.2 million, according to a company statement issued yesterday.
The company made the announcement to the Public Disclosure Platform (KAP) Monday explaining the purchase will take place through Arçelik A.Ş.'s subsidiary firm Ardutch BV located in the Netherlands. The transfer of the shares of production and sales companies operating in Pakistan under the Dawlance brand is likely to be completed by Nov. 7, after gaining the approval of regulatory bodies and fulfilling the closure requirements.
With this investment Arçelik will have 18 facilities in seven countries along with 30,000 employees. According to a written statement made by the company, as Arçelik pursues leadership positions in Silk Road countries it will continue to operate two Dawnlance manufacturing sites in Karachi and one in Hyderabad along with an extensive distribution, sales and service network across Pakistan.
A leading home appliance brand in Pakistan, Dawlance Premium Home Appliances Company was founded in 1980 in Karachi and remained as a privately owned company until the acquisition. Dawnlance is a leading player in refrigeration, microwaves, air conditioners and washing machines. Employing 3,000 people across its network, Dawnlance has nearly 2,000 stores across the country through 16 regional agencies and reported revenues of $221 million in 2015 as well as EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) of $45 million. The addition of Dawnlance to Arçelik's network will strengthen the company's international position.
Operating in over 130 countries around the world and managing premiere companies and brands across several continents from Europe to the Middle East and Africa to Asia, Arçelik A.Ş. is a major household appliance manufacturer based in Turkey. As Turkey's largest industrial and services group it manufacturers refrigerators, washing machines, dishwashers, ovens, vacuum cleaners, air conditioners, compressors and motors. Having operations in durable consumer goods industry with production, marketing and after-sales services, Arçelik also has production facilities in Romania, Russia, China, and South Africa. Arçelik A.Ş. has 10 brands which are Arçelik, Beko, Grundig, Bloomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, and Altus.
The company made the announcement to the Public Disclosure Platform (KAP) Monday explaining the purchase will take place through Arçelik A.Ş.'s subsidiary firm Ardutch BV located in the Netherlands. The transfer of the shares of production and sales companies operating in Pakistan under the Dawlance brand is likely to be completed by Nov. 7, after gaining the approval of regulatory bodies and fulfilling the closure requirements.
With this investment Arçelik will have 18 facilities in seven countries along with 30,000 employees. According to a written statement made by the company, as Arçelik pursues leadership positions in Silk Road countries it will continue to operate two Dawnlance manufacturing sites in Karachi and one in Hyderabad along with an extensive distribution, sales and service network across Pakistan.
A leading home appliance brand in Pakistan, Dawlance Premium Home Appliances Company was founded in 1980 in Karachi and remained as a privately owned company until the acquisition. Dawnlance is a leading player in refrigeration, microwaves, air conditioners and washing machines. Employing 3,000 people across its network, Dawnlance has nearly 2,000 stores across the country through 16 regional agencies and reported revenues of $221 million in 2015 as well as EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) of $45 million. The addition of Dawnlance to Arçelik's network will strengthen the company's international position.
Operating in over 130 countries around the world and managing premiere companies and brands across several continents from Europe to the Middle East and Africa to Asia, Arçelik A.Ş. is a major household appliance manufacturer based in Turkey. As Turkey's largest industrial and services group it manufacturers refrigerators, washing machines, dishwashers, ovens, vacuum cleaners, air conditioners, compressors and motors. Having operations in durable consumer goods industry with production, marketing and after-sales services, Arçelik also has production facilities in Romania, Russia, China, and South Africa. Arçelik A.Ş. has 10 brands which are Arçelik, Beko, Grundig, Bloomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, and Altus.
Last Update: November 01, 2016 21:27