Whirlpool confirms non-binding Aga bid

04 Sep, 15

President of Whirlpool AMA Esther Berrozpe reports “Aga might be an opportunity” to become number one in cooking

President of Whirlpool EMEA Esther Berrozpe confirmed Whirlpool had made a non-binding bid for Aga at consumer electronics and household appliance exhibition IFA, in Berlin.

It is a move which could challenge the £129.2million offer by Viking owner Middleby Corporation, agreed in principle by Aga at the end of July.

Whirlpool will host a shareholder meeting with Aga on September 8, to find out whether its bid has been successful.

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Speaking at IFA, which was the first time Whirlpool showcased all its global brands since its acquisition of the Indesit Company, Esther Berrozpe spoke of its aim to become the leader in cooking across Europe.

Answering Kitchens & Bathrooms News’s question from the floor if Aga would join the Whirlpool portfolio to help Whirlpool achieve its ambition, Berrozpe revealed “Aga might be an opportunity.”

She responded: “As we think about becoming the leaders in cooking, we are looking for any opportunities – of course organic growth and leveraging the great portfolio that we have – but also using merger and acquisitions as an opportunity to accelerate that. Having said that, acquisitions are not [at] the core of our strategy.”

She continued: “We want to continue developing our brands and driving organic growth…but of course we are always looking for opportunities and if we find the right opportunity that fits in our long-term strategy from the brand and product perspective – we go for it.”