{"id":11582,"date":"2023-12-14T11:03:08","date_gmt":"2023-12-14T10:03:08","guid":{"rendered":"https:\/\/corporate.haier-europe.com\/?post_type=press-release&#038;p=11582"},"modified":"2023-12-15T11:19:51","modified_gmt":"2023-12-15T10:19:51","slug":"haier-smart-home-acquires-carriers-commercial-refrigeration-business-for-usd-640-million","status":"publish","type":"press-release","link":"https:\/\/test-corporate.haier-europe.com\/en-gb\/press-release\/haier-smart-home-acquires-carriers-commercial-refrigeration-business-for-usd-640-million\/","title":{"rendered":"Haier Smart Home Acquires Carrier\u2019s Commercial Refrigeration Business for USD 640 million"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Haier Smart Home entered into a <strong>stock purchase agreement<\/strong> with<strong> Carrier Global Corporation<\/strong> (NYSE: CARR) to acquire <strong>Carrier\u2019s Commercial Refrigeration Business<\/strong> (\u201cCarrier Commercial Refrigeration\u201d) through acquiring <strong>100% of the equity interest in Carolin Holdings B.V. Carrier<\/strong>, for total consideration of approximately USD 640 million (the <strong>\u201cTransaction\u201d<\/strong>), which represents 11x 2022A P\/E. The Transaction marks Haier Smart Home\u2019s expansion from its existing household refrigeration business into the commercial refrigeration business, creating additional future growth opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Carrier Commercial Refrigeration is a <strong>leading global commercial refrigeration solutions provider,<\/strong> with more than 4,000 employees, including over 2,000 service technicians in more than ten countries worldwide. Carrier Commercial Refrigeration boasts a large and loyal enterprise customer base with long-term partnerships spanning multiple years. Additionally, CCR has accumulated expertise in technology and commercial applications related to carbon dioxide (\u201c<strong>CO<sub>2<\/sub><\/strong>\u201d) refrigeration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cCarrier Commercial Refrigeration is a preeminent global enterprise with respected brands, leading technology, and an experienced workforce dedicated to providing best-in-class solutions to customers globally,\u201d<\/em> said <strong>Li Huagang<\/strong>, <em>Chairman and CEO of Haier Smart Home<\/em>. <em>\u201cThe acquisition will help Haier Smart Home establish its commercial refrigeration platform, enabling the Company to capture additional growth opportunities by expanding its presence to food retail refrigeration and cold storage.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cFollowing our decision to exit the commercial refrigeration business and a robust competitive process, we identified Haier Smart Home as the right fit to grow the business moving forward, building upon our successful 22-year refrigeration partnership with them,\u201d<\/em> said <em>Carrier Chairman &amp; CEO<\/em> <strong>David Gitlin<\/strong>. <em>\u201cExecuting this definitive agreement demonstrates continued progress in our portfolio transformation, further positioning Carrier as the global leader in intelligent climate and energy solutions. Following completion of our planned transactions, we will be a more focused, higher growth business, operating in attractive global market segments and benefiting from long-term secular tailwinds. I am deeply appreciative of our team\u2019s work to successfully position us for our future.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction is expected to close in the second half of 2024, and is subject to regulatory approvals and customary closing conditions, and works council consultation processes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Haier Smart Home entered into a stock purchase agreement with Carrier Global Corporation (NYSE: CARR) to acquire Carrier\u2019s Commercial Refrigeration Business (\u201cCarrier Commercial Refrigeration\u201d) through acquiring 100% of the equity&hellip;<\/p>\n","protected":false},"author":5,"featured_media":11590,"parent":0,"menu_order":63,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"press_releases_categories":[87],"class_list":["post-11582","press-release","type-press-release","status-publish","format-standard","has-post-thumbnail","hentry","press_releases_categories-company"],"acf":{"attachment":"","brand":""},"_links":{"self":[{"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/press-release\/11582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/types\/press-release"}],"author":[{"embeddable":true,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/comments?post=11582"}],"version-history":[{"count":1,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/press-release\/11582\/revisions"}],"predecessor-version":[{"id":11585,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/press-release\/11582\/revisions\/11585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/media\/11590"}],"wp:attachment":[{"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/media?parent=11582"}],"wp:term":[{"taxonomy":"press_releases_categories","embeddable":true,"href":"https:\/\/test-corporate.haier-europe.com\/en-gb\/wp-json\/wp\/v2\/press_releases_categories?post=11582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}