Sale of Arzum to Ashmore

Ashmore Group, through Turkish Household Appliances B.V., has acquired a 49% minority stake in Arzum, a Turkiye-based small household appliances company. Arzum is one of Turkiye’s established small household appliances brands, with a product portfolio spanning kitchen appliances, food preparation, cooking and frying, hot beverage preparation, personal care products, irons, vacuum cleaners, heaters and water heaters. The company serves consumers through a broad sales network and has built strong brand recognition in the Turkish small domestic appliances market. Ashmore Group is a specialist emerging markets investment manager with private equity and alternative investment capabilities. Through the transaction, Arzum partnered with an international financial investor to support its institutionalization, growth strategy, international expansion and development as a branded consumer appliances platform. INHERA acted as financial and strategic advisor to Arzum in this transaction.