Panasonic Acquires U.S. Refrigeration Company Hussmann for $1.5 Billion

Panasonic Corp has announced plans to acquire U.S. refrigeration company Hussmann for over 186.6 billion yen ($1.5 billion), aiming to enhance its tech capabilities and enter the U.S. food distribution market. This move reflects Panasonic’s shift away from unprofitable segments like smartphones and plasma TVs, focusing instead on high-margin products such as advanced cold storage and LED lighting. The acquisition, involving full control of Hussmann from Clayton, Dubilier & Rice and retaining industrial group Ingersoll Rand’s minority stake, will help Panasonic reach its target of 2.5 trillion yen in sales from business-focused offerings by 2018, with an emphasis on food distribution. CEO Kazuhiro Tsuga expressed ambitions for this deal to serve as a catalyst for global expansion, particularly into the largest market for food distribution.

Panasonic Acquires U.S. Refrigeration Company Hussmann for $1.5 Billion

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