Hisense has acquired the Slovenian home appliances producer Gorenje for $339 million, which is viewed as one of the largest acquisitions in the Slovenian history. The acquisition procedure was completed in August 2018. Both companies will work together to enhance product ranges efficiencies thereby bringing to market products that enhance people’s convenience & lifestyle at home.
With this acquisition, Gorenje Gulf FZE, a fully owned subsidiary of Gorenje is now officially merged with Hisense Middle East, a set-up in late 2012 by the Chinese electronics giant in the UAE. Both teams operate and manage from the Hisense Middle East office. Earlier, The European Commission approved the acquisition of the household manufacturer Gorenje by Hisense Group. The transaction has no competition concerns given the companies’ limited combined market positions.
“From a category perspective, Gorenje’s strengths in large cooking appliances and dishwashers will complement Hisense’s strengths in refrigeration, laundry and air conditioners. Gorenje’s premium Swedish brand ASKO will also be a key asset, supporting Hisense’s corporate branding premiumisation plan,” added Jason, Managing Director, Hisense Middle East.
“While Hisense has a strong presence in western Europe, Gorenje is strong in Germany, Scandinavia and central and eastern Europe. By combining its production facilities and orders with Hisense’s, Gorenje could produce not only its own brand name products but also kitchen appliances, refrigerators, washing machines, televisions and air conditioners of Hisense’s brands for the European market,”Jason added.
For seven decades, Gorenje has been manufacturing home appliances. It started as the biggest producer in the former Yugoslavia. Gorenje has a strong global workforce of 11,000 people, has three state of the art factories in Slovenia, Serbia, the Czech Republic. Hisense is one of the world’s biggest makers of TV and household appliances with production facilities around the world, including in Europe.