ITALY/NORWAY: Arneg Nordic has acquired 70% of the shares of its Norwegian commercial refrigeration and freezing cabinet distributor Plug-In Norge AS.
Established in 2015, Plug-In Norge (formerly known as Vibocold Plug-in Norge) is already a distributer of Arneg Nordic and Arneg’s Oscartielle brand from its base in Tönsberg, southern Norway. It has eight employees and a turnover of NOK120m (€12m). The deal is said to complement the business of Kelvin AS, Arneg Nordic’s turn-key refrigeration specialist.
“For Arneg Nordic the cooperation with Plug-In Norway is a natural development on the path to continue the scope of products and customer service in Norway,” said Arneg Nordic’s deputy MD Niklas Rindhagen.
The remaining shares in the business are held by existing Plug-In Norge AS directors Per Otto Gjertsen (MD), Ole Fredrik Eide (product and marketing director), and Vidar Bakken (sales director).
Arneg Nordic is the Scandinavian subsidiary of Italian manufacturer Arneg SpA.