The transaction is a further step in Ariston Group’s strategy to consolidate the climate comfort offer, leveraging a highly complementary combination of capabilities, brands and market access.
Paolo Merloni, Executive Chairman of Ariston Group, commented: “We are pleased to welcome Riello’s colleagues and partners to the Ariston family. Riello and Beretta are well-established brands with distinctive technological capabilities, and they will strengthen our offering to customers in climate comfort and combustion technologies. We are committed to accelerating their development by leveraging the Group’s capabilities and scale.”
“With Riello now part of Ariston Group, we are ready to unlock value creation opportunities by combining complementary capabilities, technologies and product portfolios. We have a clear roadmap to deliver synergies in technology and sourcing and accelerate growth through a broader, highly complementary offering,” added Maurizio Brusadelli, Chief Executive Officer of Ariston Group.