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Daikin completes Zanotti purchase

Daikin-ZanottiITALY: Japanese manufacturer Daikin completed the acquisition of Italian commercial and industrial refrigeration manufacturer Zanotti.

Having first announced its intentions at the end of April, Daikin subsidiary Daikin Europe NV completed the acquisition on Tuesday (July 5) at a price of €98m.

Established in 1962, Zanotti achieved sales of €125m last year and has representation in more than 65 countries. In addition to Italy, it has factories in Germany, Spain, England, Brazil and China. In the UK the company has owned Hubbard Products since 2007.

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