Acquisition strengthens Beijer Ref’s position in New Zealand and Australia

July  29, 2015

The Swedish refrigeration group, Beijer Ref AB, strengthens its operation in New Zealand and Australia by acquiring the refrigeration wholesale company, Realcold, which has its head office in Auckland, New Zealand, and around 20 branches in New Zealand and Australia.

Beijer Ref is one of the largest refrigeration wholesalers in the world and the acquisition of Realcold is a significant step forward in the company’s strategy to grow outside Europe. Realcold was founded in 1955, reports annual sales of more than SEK 260M and is the second largest refrigeration wholesaler in New Zealand. With the acquisition, Beijer Ref becomes the largest refrigeration wholesaler in New Zealand.

“New Zealand and Australia are interesting growth markets for Beijer Ref. With the large food exports and growing tourism industry of these countries, there is a significant need for efficient refrigeration plants”, says Per Bertland, CEO of Beijer Ref.

In New Zealand, Realcold has 10 branches, 68 employees and sales of SEK 135M.

In Australia, the company has established an operation since 1999. Realcold has its distribution centre in Brisbane, eleven branches, 52 employees and sales of 157M.

“The company has a broad product portfolio with brands such as Mitsubishi Heavy Industries, Tecumseh, Emerson Copeland and Gree. However, the range will now be complemented with Beijer Ref’s product programme. In addition to synergies on the purchasing side, we will contribute our European refrigeration-technology expertise and contribute with new eco-friendly refrigeration technology in New Zealand and Australia”, continues Per Bertland.

The acquisition of Realcold together with our acquisition of the refrigeration wholesale companies, RNA Engineering & Trading in Malaysia and Patton in New Zealand, Australia, Thailand and India, during the spring has given Beijer Ref a stable foothold in the Australasia region, with total sales approaching SEK 800M.

Realcold will be integrated into Beijer Ref’s organisation and is expected to be included in the consolidated accounts from October 2015. The acquisition is expected to have a marginal positive effect on Beijer Ref’s net income in 2015. The acquisition is subject to approval by the competition authorities in New Zealand.

Malmö, 29 July 2015
Beijer Ref AB (publ)

For further information, please contact:
Per Bertland, CEO
Telephone +46 40-35 89 00
Mobile +46 705-98 13 73

or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04


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