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18 November 2015

Beijer Ref acquires HRP

Beijer Ref AB, the Swedish refrigeration group, is to acquire the remaining 56 per cent of the shares in refrigeration wholesale company, HRP Ltd.

Following its acquisition of Carrier Corporation’s refrigeration wholesale operation in Europe and South Africa in 2009, Beijer Ref already held a 44 per cent stake in HRP.

The move will boost Beijer Ref’s position in Europe and complements the group’s existing UK refrigeration wholesalers, Dean & Wood and RW Refrigeration Wholesale.

HRP was established in 1945 as Headlands Refrigerator Parts. With its head office in Rougham, it has 170 employees and operates 15 branches around the United Kingdom. It has annual sales of around SEK 500M.

A leading refrigeration wholesaler in the UK, it has a broad product range comprising around 10,000 products that include leading brand names such as Mitsubishi Heavy Industries, Samsung, Toshiba, Danfoss, Copeland, Lawton, BOC, Aspera and L’Unite.

HRP has experienced profitability problems in recent years. The decision to acquire the remaining portion of HRP is based on the fact that Beijer Ref sees good opportunities for reversing this trend through the efficient co-ordination with the Group’s existing UK refrigeration operations and by implementing a fully-comprehensive UK logistics network.

Ceo of Beijer Ref, Per Bertland, said: “With the acquisition of HRP, we consolidate Beijer Ref’s operation in the important UK market. The three companies will continue to operate under their respective brands. However, through the joint group affiliation, we will be able to offer even better service and more efficient logistics, which improves our total offer in a competitive market.”

HRP shareholder, Yvonne Curtis said: “The Board of HRP believes that becoming full members of the Beijer Ref team in the UK represents the best opportunity for the future development of HRP. With the skills and resources of a larger group behind us we will be better placed to address the new markets opening up in our business.”

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