Şişecam’s Paşabahçe unit, which makes tableware and home furnishings, has started talks to acquire shares in Arc International, a French household goods maker.
Paşabahçe’s share in global glass household goods market is currently 12%, putting it third in the market, while Arc International is the leader with 13%. Therefore, if the talks between the companies finalise with an acquisition, Paşabahçe will rise to become market leader, ahead of US company Libbey.
The French company, which has an annual turnover of around €1 billion, produces around 4.3 million pieces of glass household goods every day.
The company earns 47% of its income from Europe, but outside France it has production activities in China, Russia and the United Arab Emirates.
Brands under the Arc group include its own Luminarc, Arcoroc, Cristal d’Arques, Longchamps, Salviati, Pyrex and the fine crystal brand J. G. Durand.
Paşabahçe and Arc International previously cooperated to enter the North American hotel and restaurant sector jointly in 2006.
In a filing to the Istanbul Stock Exchange, Şişecam stated that Paşabahçe had signed a non-disclosure agreement regarding the upcoming non-binding talks.