Carrier Global Corporation has officially completed the sale of its commercial refrigeration business to its Chinese joint venture partner, Haier. The transaction, valued at $775 million, includes approximately $200 million of net pension liabilities.
The sale of the commercial refrigeration business is part of Carrier’s ongoing strategy to focus on its core competencies and drive growth in its Building Solutions and Fire & Security segments. The company expects the transaction to strengthen its financial position and enhance its ability to invest in future growth opportunities.
Haier, a leading global appliance manufacturer, has been a joint venture partner with Carrier since 2019. The acquisition of the commercial refrigeration business will significantly expand Haier’s presence in the North American market and enhance its capabilities in the commercial refrigeration sector.
The completion of the sale marks a significant milestone for both Carrier and Haier. The transaction is expected to have a positive impact on both companies’ financial performance and strategic positioning.