Hoshizaki Electric, headquartered in Toyoake, Japan, announced that its wholly owned subsidiary, Hoshizaki Europe Holdings B.V., headquartered in Amsterdam, The Netherlands, is to acquire the Danish commercial refrigeration manufacturer Gram Commercial. Hoshizaki’s business plan is to raise the current overseas turnover rate of 23.8% in consolidated sales to 34% in the fiscal year ending December 2012.  To achieve this, it is essential for Hoshizaki to expand its market share in Europe, particularly by refrigeration sales.

Gram Commercial is the market leader in terms of quality, functional design, and customer service.  Hoshizaki anticipates the synergy with Gram Commercial will create significant growth in both profit and sales. Following the acquisition, Gram Commercial and Hoshizaki will develop new products combining energy saving technology and natural refrigerants, reveals the company’s press release. Through the sales networks of both companies, and the exchange of refrigeration, ice machines and other products, new products will be available to European countries enabling the Hoshizaki Group to promote the globalisation of foodservice kitchen equipment.