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It is owned by Arçelik A.Ş., the white goods (major appliance) manufacturer of Turkish conglomerate Koç Holding. Originally a German local consumer electronics company, Grundig GmbH was founded in 1945 by Max Grundig and was headquartered for the most part in Nuremberg until its insolvency in 2003.
The company's name is a combination of the first two letters of the founders' surnames, Bejerano and Koç. In 2004, Beko Elektronik purchased the German electronics company Grundig and by January 2005, Beko and its rival, Turkish electronics and white goods brand Vestel, accounted for more than half of all TV sets manufactured in Europe. [3]
In 2004, Arçelik acquired German TV and home appliance maker Grundig in a partnership with Alba plc. In 2007, Arçelik became the sole-owner of the Grundig Multimedia B.V. and its eponymous brand. [17] [18] To increase brand recognition, Beko became the sponsor of Watford F.C. during the 2007-2008 and the 2008–2009 seasons.
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In 1930, Grundig and a colleague opened a store selling radios under the name Fürth, Grundig & Wurzer (RVF), generating one million Reichsmark in sales by 1938. After World War II, business expanded with a successful range of consumer electronics. In 1972, the company became a corporation and was sold to Philips in 1984.
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Etón Corporation is an American company established in 1986 and is based in Palo Alto, California. Formerly known as Lextronics, it produces solar powered and hand-cranked shortwave and emergency radios sold in retail stores and online. It also sells Grundig-branded radios in North America and Europe.