Haier confirms its acquisition of Ferroli ASEAN
Haier Smart Home announced on 3 November that it had acquired 100% of Ferroli ASEAN , the Southeast Asian business of Italy's Ferroli group. The business has manufacturing, distribution and service operations in Vietnam, principally serving the electric water-heater market.
The transaction was completed on 23 October , with a ceremony held in Vietnam on 3 November. It therefore represents a completion announced during the reporting week, rather than a transaction newly completed that week. The announcement reviewed did not disclose the purchase price.
PCA'S PERSPECTIVE
The transaction illustrates how an established local business can provide an international buyer with manufacturing capacity, distribution access and recognised products. Acquisition planning should examine the transferability of those advantages, including brand rights, customer relationships, key employees and contracts affected by a change of control.