Arçelik A.Ş. has announced the 258 million dollar acquisition of Dawlance, Pakistan’s market-leading home appliance brand, as part of its global expansion into fast-growth opportunity markets.
The transaction will give Arçelik, which is owned by Koç Group, a significant presence in the world’s sixth most populous country at a time of increased economic growth. The acquisition is expected to close by the end of 2016 subject to fulfilment of closing conditions including regulatory approvals. Dawlance was founded in Karachi in 1980 and remains a privately-owned company. It has two manufacturing sites in Karachi and one in Hyderabad, supporting 3,000 staff across an extensive distribution, sales and service network. Dawlance is a leading local brand in refrigeration, microwaves ovens, air conditioning and laundry appliances. Its revenues in 2015 reached 221 million dollar.
«Arçelik – said the Group’s CEO, Hakan Bulgurlu – is progressing steadily on a global path and aspires to be a truly global player in its industry. Through the last decade we have consistently expanded our global outreach. We have doubled our sales turnover over the last 5 years and we retain our fast growth in all the markets we operate. We pride ourselves on developing products, which make a real difference to our customers’ lives and have more than 1,000 engineers in our R&D centres in Turkey, Taiwan and Cambridge, in the UK. We also expect to open more centres soon in Germany and the USA.»
