Grundig is a consumer electronics manufacturer owned by Arçelik A.Ş., the home appliance company of the Turkish conglomerate Koç Holding. Grundig manufactures home appliances and personal care products. Originally a German electronics company, Grundig GmbH was founded in 1945 by Max Grundig and was headquartered in Nuremberg. It became one of the world's leading manufacturers of radios, televisions, records and other electronic equipment during the following decades of the 20th century. In the 1970s, Philips began acquiring shares in Grundig AG, gaining full control in 1993. In 1998, Philips sold Grundig. In 2007, Koç Holding bought Grundig and included the brand in its household appliances subsidiary, Arcelik A.Ş. Koç is a publicly listed conglomerate with over 80,000 employees