FRANKFURT, Germany and QINGDAO, China, Oct. 2, 2024
/CNW/ -- October 1st 2024
(Beijing time), Haier Smart
Home Co., Ltd. (listed on the Shanghai, Hong
Kong, and Frankfurt stock
exchanges; stock tickers: 600690.SH, 6690.HK, 690D.DE), a global
leader in consumer electronics and home appliances, announced the
successful completion of its acquisition of Carrier Commercial
Refrigeration from Carrier Global Corporation (NYSE: CARR) for an enterprise value of approximately
$775 million. The technologies
related to commercial refrigeration that the company owns or is
licensed to use, including carbon dioxide technology, will
contribute to environmental improvements, promote green
transformation in enterprises, and benefit society. This
acquisition further enriches Haier Smart Home's diverse product
portfolio and signifies an enhanced strategic positioning in the
global commercial refrigeration market.
This acquisition follows the signing of definitive agreements on
December 12, 2023 and represents a
significant step forward in Haier's global growth strategy. The
deal successfully closed after obtaining all necessary regulatory
approvals and fulfilling a series of customary closing conditions,
ensuring good coordination among all stakeholders and a smooth
transition for the business.
"We are thrilled to welcome the 4,000+ Carrier Commercial
Refrigeration employees into the Haier family," said Li Huagang,
Chairman and CEO of Haier Smart Home. "This transaction not only
broadens our product portfolio but also provides a unique
opportunity to create a better and more sustainable solution
provider from industrial & food retail refrigeration to cold
storage. The well-known brands such as Carrier Commercial
Refrigeration, Profroid, Celsior, and Green & Cool, along with
their outstanding teams and key customers, will play a crucial role
in our efforts to deliver more comprehensive and innovative product
solutions to our increasingly diverse clientele."
"Joining Haier represents a fantastic opportunity for our
business and team," stated Marcus
Eisenhuth, CEO of Carrier Commercial Refrigeration. "Our
team is astonished and touched by Haier's strong commitment and
dedication to ensure a smooth business transition and obtaining all
necessary approvals within the expected timeframe. During the joint
process, we gained a better understanding of the unique Haier
culture, the RenDanHeYi model, and the way Haier enables each
individual. We look forward to the synergies this partnership will
undoubtedly create."
The acquisition enables Haier to broaden its reach from home
refrigeration to the commercial refrigeration market, enhancing its
ability to offer comprehensive refrigeration solutions to a broader
clientele in the industrial, food retail and cold storage
sectors.
About Haier Smart Home Co., Ltd.
Haier is one of the world's leading manufacturers of household
appliances with a focus on smart home solutions and customized
production. Haier Smart Home Co., Ltd. develops, produces and
distributes a wide range of household appliances. These include
refrigerators, freezers, washing machines, air conditioners, water
heaters, kitchen appliances, small household appliances, and an
extensive range of intelligent household appliances. The Company
distributes its products through leading household brands such as
Haier, Casarte, Leader, GE
Appliances, Fisher & Paykel, AQUA and Candy. Haier Smart
Home Co., Ltd. has launched Smart Home Experiential Cloud in the
Chinese market, which connects homes, users, enterprises and
ecosystem partners, and facilitates the integration of Haier's
online, offline and micro-store businesses and supports user
interaction to further optimize the user experience.
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SOURCE Haier Smart Home