Haier Smart Home Co., Ltd., a leading global player in consumer electronics and home appliances, has announced the successful acquisition of Carrier Commercial Refrigeration from Carrier Global Corporation for an enterprise value of approximately $775 million. This significant deal, completed on October 1, 2024, Beijing time, marks a pivotal moment in Haier’s strategic expansion into the commercial refrigeration market.
The acquisition follows the signing of definitive agreements on December 12, 2023, and has been finalised after obtaining all necessary regulatory approvals. This smooth transition reflects the effective coordination among all stakeholders involved, ensuring that Carrier’s operations integrate seamlessly into Haier’s existing business framework.
Li Huagang, Chairman and CEO of Haier Smart Home, expressed enthusiasm about the deal, stating, “We are thrilled to welcome the 4,000+ Carrier Commercial Refrigeration employees into the Haier family. This transaction not only broadens our product portfolio but also provides a unique opportunity to create a better and more sustainable solution provider across industrial and food retail refrigeration to cold storage.”
Haier’s acquisition will enhance its diverse product offerings and strategic positioning in the global commercial refrigeration market. The integration of Carrier’s technologies, including carbon dioxide technology, is expected to contribute significantly to environmental improvements and promote a green transformation within enterprises. This move aligns with Haier’s commitment to sustainability and innovation, providing society with enhanced refrigeration solutions.
Marcus Eisenhuth, CEO of Carrier Commercial Refrigeration, praised the partnership, stating, “Joining Haier represents a fantastic opportunity for our business and team. Our team is astonished and touched by Haier’s strong commitment and dedication to ensure a smooth business transition and obtaining all necessary approvals within the expected timeframe.” Eisenhuth highlighted the mutual respect and understanding developed during the integration process, particularly in learning about Haier’s unique culture and the RenDanHeYi management model.
This acquisition empowers Haier to broaden its reach beyond home refrigeration, significantly enhancing its ability to offer comprehensive refrigeration solutions across various sectors, including industrial, food retail, and cold storage. The well-known brands under the Carrier umbrella, such as Profroid, Celsior, and Green & Cool, along with their dedicated teams and key customer relationships, will play an integral role in Haier’s strategy to deliver innovative products and solutions to a diverse clientele.
As the global demand for energy-efficient refrigeration solutions continues to rise, Haier’s acquisition of Carrier Commercial Refrigeration positions the company to leverage advanced technologies and expertise in this growing market. The move is anticipated to not only strengthen Haier’s market presence but also foster collaborations that drive innovation in the refrigeration sector.
In summary, the successful acquisition of Carrier Commercial Refrigeration represents a significant milestone for Haier Smart Home, reinforcing its commitment to sustainability and its ambition to be a comprehensive solution provider in the evolving landscape of commercial refrigeration.
