Back in July we’ve reported that Turkey’s Arçelik AS Group is going to acquire Dawlance, one of Pakistan’s largest home appliances maker. Now the company has officially announced that the acquisition is completed.
Following the payment of the share purchase price by Arçelik’s 100% subsidiary Ardutch B.V. incorporated in the Netherlands, the share transfer is expected to be completed by 7 November 2016, passed by required regulatory approvals.
Dawlance is a leading home appliances brand in Pakistan, a promising market with 200 million people. The addition of Dawlance into Arçelik’s operational network will strengthen the company’s international position thanks to Dawlance’s strong brand awareness, extensive distribution, sales and service network, professional management and competent engineering staff.
Arçelik has a global network of operations and leading brands in a wide geography spanning from Europe to Middle East and Africa to Asia.
Arçelik will continue operations through existing channels
With the closing of the acquisition of Dawlance in Pakistan, Arçelik will employ a total workforce of 30,000 worldwide and will have a global production base of 18 manufacturing facilities in seven countries including Turkey, Romania, Russia, China, South Africa and Thailand.
It merits mentioning here that Arçelik will continue operations at Dawlance’s two manufacturing sites in Karachi and one in Hyderabad.