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The UK’s competition watchdog has threatened an in-depth probe of a merger between Turkey’s Arçelik and the European business of US group Whirlpool, two of Europe’s biggest home appliance makers.
The Competition and Markets Authority said it was concerned that the combination between Arçelik, which owns the Beko and Grundig brands, and Whirlpool, which owns Hotpoint and Indesit, could cause “a substantial lessening of competition”.
The regulator said the tie-up could also result in “higher prices or a reduction in choice or quality for customers”.
The CMA opened a probe in August after Arçelik announced in January that it was buying a majority stake in Whirlpool’s European operations.
The merged company would be the UK’s biggest supplier of washing machines, tumble dryers, dishwashers and cooking appliances, a market worth more than £3.8bn a year, the regulator said.
The CMA will now refer the merger to an in-depth investigation unless Arçelik offers to address its concerns by October 5.
