Haier Smart Home Completes Acquisition Of Carrier Commercial Refrigeration

Carrier Global Corporation Registered Shs When Issued

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(RTTNews) - Haier Smart Home Co., Ltd., a consumer electronics and home appliances firm, announced Wednesday the completion of its acquisition of Carrier Commercial Refrigeration from Carrier Global Corp. (CARR) for an enterprise value of around $775 million.

The deal, following the signing of definitive agreements in December 2023, was closed after obtaining all necessary regulatory approvals and fulfilling a series of customary closing conditions.

The company noted that 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.

The acquisition further enriches Haier Smart Home's diverse product portfolio, and enables it to broaden its reach from home refrigeration to the commercial refrigeration market.

Li Huagang, Chairman and CEO of Haier Smart Home, said, "We are thrilled to welcome the 4,000+ Carrier Commercial Refrigeration employees into the Haier family,... 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."