Paşabahçe starts talks to acquire French glass household good firm
Turkish glass household goods maker Paşabahçe is in talks to acquire shares in French Arc International.Şişecam, Turkey’s biggest glassmaker, has said its Paşabahçe unit, which makes tableware and home furnishings, has started talks to acquire shares in Arc International, a French household goods maker.
In a filing to the Istanbul Stock Exchange, Şişecam stated that Paşabahçe had signed a non-disclosure agreement regarding the non-binding talks.
Paşabahçe’s share in global glass household goods market is currently 12 percent, putting it third in the market, while Arc International is the leader with 13 percent. Therefore, if the talks between the companies finalize with an acquisition, Paşabahçe will rise to become market leader, ahead of U.S. company Libbey.
Şişecam was crowned as the top exporter of Turkey in 2013.
The French company, which has an annual turnover of around 1 billion euros, produces around 4.3 million pieces of glass household goods every day.
The company earns 47 percent of its income from Europe, but outside France it has production activities in China, Russia and the United Arab Emirates.
Paşabahçe and Arc International had cooperated to enter North America hotel and restaurant sector jointly in 2006.
The company is privately held and has been owned by members of the Durand family since 1916.
Brands under the Arc group include its own Luminarc, Arcoroc, Cristal d’Arques, Longchamps, Salviati, Pyrex and the fine crystal brand J. G. Durand.