Arçelik to complete purchase of Dawlance by Nov 7
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Turkish company Arçelik, the third largest player in the home appliances industry in Europe, managing 10 core brands and operating in 130 countries, will acquire a leading manufacturer of household appliances in Pakistan, Dawlance, for about $258 million. The acquisition is expected to close on November 7. Pakistan offers the company an attractive market of 200 million people and Dawlance offers strong brand awareness, extensive distribution, sales and service network, professional management and competent engineering staff.
The acquisition is projected to be completed after Ardutch B.V., a subsidiary of Arçelik in the Netherlands, makes the payment for the share purchase. With this acquisition, Dawlance’s manufacturing site in Hyderabad and two manufacturing sites in Karachi will be incorporated by Arçelik. It will also strengthen Arçelik’s international position.
The acquisition is projected to be completed after Ardutch B.V., a subsidiary of Arçelik in the Netherlands, makes the payment for the share purchase. With this acquisition, Dawlance’s manufacturing site in Hyderabad and two manufacturing sites in Karachi will be incorporated by Arçelik. It will also strengthen Arçelik’s international position.
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