Arcelik acquires Dawlance for $243 million

KARACHI: Turkish-based Arcelik AS, one of the leading European conglomerates, has acquired Pakistani home appliances brand Dawlance for $243 million, and has announced further investment of around $40 to $50 million for value-addition in the company.

Arcelik CEO Hakan Bulgurlu, in a media talk on Tuesday, said Pakistan was a huge market with around 190 million people, while Dawlance had the potential of exporting to regional markets, including Afghanistan, Sri Lanka, and Bangladesh. Arcelik would incorporate Dawlance’s two manufacturing sites in Karachi and one in Hyderabad along with extensive distribution, sales and service network across Pakistan.

Bulgurlu said they were planning to bring energy efficient appliances in Pakistan. “Arcelik’s dish wash appliance can save 300 tons of water per person in a year with its water saving technology.”