Company has said that the 881 million Euro deal will grant it a major presence in commercial refrigeration as well as ensuring it can target potential for more holistic cooling solutions
Daikin has acquired Australia-based commercial refrigeration group AHT as it seeks to expand its presence and expertise across the cold chain with an increased focus on commercial refrigeration in particular.
The deal, which is valued at 881 million euros, will see Daikin being able to expand its role within the European commercial refrigeration market, while positioning itself to develop total systems for the entire cold chain. The company said this could potentially involve looking at solutions capable of managing temperature from the food product management stage up to the climate comfort of stores.
Commercial refrigeration was identified by the company as a priority focus as part of its ‘Fusion 20’ strategic management plan that sets out the group’s aims to focus on opportunities from meeting environmental regulations concerning energy saving and refrigerants.
The acquisition builds on the company’s purchase of Italy-based commercial refrigeration group Zanotti in 2016 as a means to increase its footprint in cooling for food processing and warehouse storage purposes.
Daikin said in a statement that it saw the opportunity through the AHT acquisition to expand its presence in consumer-facing segment of the cold chain, such as refrigeration show cases.
The company added, “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, a region of remarkable growth in both population and economic prosperity.”
Ensuring more sustainable refrigeration and freezer functions is among significant global challenges to protect and preserve food supplies and limit waste, particularly in the case of developing countries, Daikin said.
The company is therefore looking at the potential for its technologies, which include energy saving, inverter and refrigerant controls solutions, to help meet these challenges.
Daikin added, “Because the refrigeration business shares a close affinity with the company’s main business of air conditioning, expectations run high for Daikin to achieve synergies with current operations.
Daikin intends to offer new value with service solutions focused on energy and the environment as it works to make its own unique contribution to resolving global issues.”