November 25, 2024

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[THE INVESTOR] Samsung Electronics has acquired US home appliance maker Dacor in its recent upscale push to appeal to luxe customers especially in the soaring built-in market in North America.

Even though the Korean tech giant didn’t reveal the deal size, industry sources estimate it to be worth about US$150 million.

The company said Dacor will become a wholly owned unit of US subsidiary Samsung Electronics America, adding that there will be no changes to its branding, operations or manufacturing.

 

Dacor’s premium built-in gas range

Dacor, established in 1965, produces high-end gas ranges, ovens, microwaves and wine refrigerators.

According to market research firm Traqline, Samsung is the No. 1 player in refrigerators, washing machines, ovens, microwaves and dishwashers with a 16.7 percent market share globally. But the company has struggled in the premium segment, especially in the soaring built-in market in the US where such products make up almost 50 percent of the total kitchen appliance sales.

Prior to Dacor, Samsung acquired Amica, Poland’s appliance manufacturer, back in 2009, in order to expand its European production base.

By Lee Ji-yoon (jylee@heraldcorp.com)