Haier completes Candy’s acquisition

Yannick Fierling, CEO of Haier Europe

Qingdao Haier has completed the acquisition of Candy S.p.A: the Italian company is now a wholly-owned subsidiary of Qingdao Haier. The celebration at Candy’s premises in Brugherio, led by Qingdao Haier Chairman, Haishan Liang, and Haier Europe CEO, Yannick Fierling, together with Beppe and Aldo Fumagalli, marks the importance of Candy’s integration into Haier as Haier’s operations platform for the European market and headquarters of Haier Europe. Yannick Fierling, in his role of CEO of Haier Europe, will also lead the operations of the former Candy Hoover Group. The aggregated volumes of Haier and Candy groups in 2018 represent a global market share of 15.1% on major appliances, 22.7% on freestanding refrigeration appliances and 19.8% in home laundry appliances (according to Euromonitor data). As communicated by the company, combined revenue ranks fifth in Western Europe and aims to enter the top three by 2022. “Candy represents a major acquisition and is a terrific asset for the growth of our combined group – Yannick Fierling said -, bringing great value to our employees, customers, business partners and shareholders. Europe is one of the key markets in Haier’s global brand strategy and this combination will accelerate Haier’s positioning in the region. I look forward to working closely with Candy’s experienced management team as we share the commitment to innovate and to provide customized solutions to introduce the experience of the smart universe into our customers’ lives”.