Haier to Acquire Carrier Commercial Refrigeration Following EU Approval

Europe: The European Commission has approved Haier Smart Home's acquisition of Carrier Commercial Refrigeration (CCR) for $775 million, citing no competition concerns due to the companies' limited combined market position. While the transaction is not yet finalized, it is expected to close in the second half of 2024. This deal includes the European CO2 refrigeration systems manufacturers Profoid, Celsior, and Green & Cool, but excludes Carrier Transicold and other entities. CCR, with over 4,000 employees and a broad sales network, has a notable legacy in CO2 refrigeration technology. Haier, despite being less experienced with CO2 systems, has prior collaborations with Carrier, such as the CO2 ice-making system for the 2022 Beijing Winter Olympics. This acquisition follows Carrier’s recent expansion into the European heat pump market through its purchase of Viessmann Climate Solutions. 

Source: Natural Refrigerants