Daikin Industries, Ltd., has reached an agreement for the acquisition of AHT Group, a company in the commercial refrigeration market in Europe. The transaction value is 881 million euros (114.5 billion yen). Through its subsidiary Daikin Europe N.V., Daikin will obtain all company shares from Bridgepoint, the private equity shareholder of AHT Group. Completion of the acquisition is planned for January 2019 after conclusion of all necessary procedures. In the strategic management plan Fusion 20, Daikin has established priority measures to expand its commercial refrigeration business, and capitalize on environmental regulations relating to energy savings and refrigerants.
AHT develops, manufactures, and sells refrigerating and freezing showcases specifically suited for food retailers. With this acquisition, Daikin is adding AHT showcases to its own wide range of products, services, and solutions based on its air conditioning and refrigeration equipment. This will enable the company to become a one-stop provider offering complete coordination of air conditioning and refrigeration products. This acquisition is also expected to solidify Daikin’s business foundation in Europe and promote full-scale expansion of its refrigeration business in the United States as well as Asia. Daikin intends to offer new value with service solutions focused on energy and the environment as it works to make its own contribution to resolving global issues. In addition to conventional products, Daikin aims to incorporate AHT’s showcases in its offering and approach retail customers as it strives to expand its own customer base.