International.
Daikin Industries, through its subsidiary Daikin Europe completed the acquisition of Zanotti SpA, an Italian manufacturer of commercial refrigerators and freezers.
The acquisition price is 98 million euros, for which Daikin will get all the shares of the company. Daikin intends to use the merger to expand its refrigeration and freezing business in Europe, while continuing to grow its business base as a comprehensive manufacturer of air conditioning and refrigeration.
This acquisition will be reflected in the company's consolidated financial settlement as of March 31, 2017.
With the business focused on Europe, Zanotti has developed a wide range of products for the entire cold chain ranging from those used in food production and transportation (land shipping) to those found in stores. With its extensive sales and service networks in every country in Europe, Zanotti has established production facilities not only in Italy, but also in the large markets of the UK and Spain.
