Recently, the Ariston Group—a renowned Italian specialist in heating and hot water solutions—announced it has reached an agreement with Carrier Global to fully acquire two major Italian HVAC brands, Riello and Beretta, for €289 million. This strategic acquisition represents a pivotal move for the Ariston Group as it deepens its global footprint in the climate and energy solutions sector. It will foster profound synergies across technology, distribution channels, and resources among these three iconic Italian brands, collectively forging a new landscape within the global HVAC industry.
Founded in 1922 in Legnago, in Italy’s Veneto region, the Riello Group stands as a benchmark enterprise in the fields of climate comfort and combustion technology. Its business structure centers on two core pillars: climate comfort and combustion solutions. The climate comfort segment accounts for two-thirds of the Group’s total revenue, while the remaining one-third is driven by its renowned combustion technology division—a unit highly esteemed for its reliable burners and combustion systems utilized in residential and commercial heating, as well as industrial process applications across Europe, North America, and China. Beretta, for its part, has cultivated a highly competitive channel advantage, built upon a long-standing, robust network of installer partnerships and an extensive user base.
This acquisition transcends mere brand consolidation; it represents a deep integration of technology, distribution channels, and resources designed to effectively unlock the Group’s market growth potential. On one hand, Ariston will directly leverage Riello’s accumulated core expertise in combustion system performance to rapidly enhance its own product portfolio in the commercial and industrial sectors, thereby accelerating technological and product innovation cycles. On the other hand—by harnessing Beretta’s mature sales channels and user base, combined with Riello’s brand influence—Ariston will further expand its global market reach. This expansion will strengthen its market penetration in key regions such as North America, Europe, and China, ultimately helping the Group solidify its position as a global leader in the field of clean combustion technology. "We are delighted to announce the acquisition of Riello, a significant milestone in our growth strategy. As a century-old Italian brand, Riello stands as an industry benchmark in the fields of climate comfort and advanced combustion technology," stated Paolo Merloni, Chairman of the Board of Ariston Group. "In alignment with the strategic positioning established at the time of our IPO in 2021—and drawing upon the extensive acquisition experience we have gained over the past decade, including our merger with Wolf-Brink—we will continue to play an active role in industry consolidation. We believe that scale and innovation are the core drivers for leading the energy transition and fostering sophisticated development within downstream markets."
David Gitlin, Chairman and CEO of Carrier Global Corporation, remarked: "Riello boasts a magnificent heritage and an exceptional team. We are fully confident that Ariston possesses the capabilities to guide Riello into its next phase of growth and further amplify the brand's value."
Maurizio Brusadelli, CEO of Ariston Group, expressed his enthusiasm: "We are honored to welcome the Riello team into the Ariston family. This collaboration unites the globally renowned Riello and Beretta brands in a powerful alliance with the Ariston brand. This strategic acquisition not only consolidates our market position in Italy but will also significantly enhance our influence within the international climate comfort market. We are poised to seize major value-creation opportunities through initiatives such as platformization, modularization, and the optimization of our procurement systems."
As a global practitioner of sustainable development, Ariston consistently optimizes its business ecosystem through a long-term investment strategy. The Group has previously completed numerous strategic acquisitions across the Asia-Pacific, European, and American markets, thereby strengthening its high-end manufacturing capabilities, enriching its product portfolio, and solidifying its regional footprint. From nearly a century of inherited Italian craftsmanship to the collaborative construction of a global ecosystem, Ariston remains steadfast in upholding its brand philosophy: "A sustainable world starts at home." Moving forward, the Group will continue to leverage the advantages of global industrial synergy, driving the upgrade of low-carbon products through technological innovation, and delivering a comfortable, eco-conscious lifestyle through products of exceptional Italian quality. By providing more efficient green energy solutions to the HVAC and climate comfort industry, Ariston aims to contribute significantly to the realization of global sustainable energy goals.
Recently, the Ariston Group—a renowned Italian specialist in heating and hot water solutions—announced it has reached an agreement with Carrier Global to fully acquire two major Italian HVAC brands, Riello and Beretta, for €289 million. This strategic acquisition represents a pivotal move for the Ariston Group as it deepens its global footprint in the climate and energy solutions sector. It will foster profound synergies across technology, distribution channels, and resources among these three iconic Italian brands, collectively forging a new landscape within the global HVAC industry.
Founded in 1922 in Legnago, in Italy’s Veneto region, the Riello Group stands as a benchmark enterprise in the fields of climate comfort and combustion technology. Its business structure centers on two core pillars: climate comfort and combustion solutions. The climate comfort segment accounts for two-thirds of the Group’s total revenue, while the remaining one-third is driven by its renowned combustion technology division—a unit highly esteemed for its reliable burners and combustion systems utilized in residential and commercial heating, as well as industrial process applications across Europe, North America, and China. Beretta, for its part, has cultivated a highly competitive channel advantage, built upon a long-standing, robust network of installer partnerships and an extensive user base.
This acquisition transcends mere brand consolidation; it represents a deep integration of technology, distribution channels, and resources designed to effectively unlock the Group’s market growth potential. On one hand, Ariston will directly leverage Riello’s accumulated core expertise in combustion system performance to rapidly enhance its own product portfolio in the commercial and industrial sectors, thereby accelerating technological and product innovation cycles. On the other hand—by harnessing Beretta’s mature sales channels and user base, combined with Riello’s brand influence—Ariston will further expand its global market reach. This expansion will strengthen its market penetration in key regions such as North America, Europe, and China, ultimately helping the Group solidify its position as a global leader in the field of clean combustion technology. "We are delighted to announce the acquisition of Riello, a significant milestone in our growth strategy. As a century-old Italian brand, Riello stands as an industry benchmark in the fields of climate comfort and advanced combustion technology," stated Paolo Merloni, Chairman of the Board of Ariston Group. "In alignment with the strategic positioning established at the time of our IPO in 2021—and drawing upon the extensive acquisition experience we have gained over the past decade, including our merger with Wolf-Brink—we will continue to play an active role in industry consolidation. We believe that scale and innovation are the core drivers for leading the energy transition and fostering sophisticated development within downstream markets."
David Gitlin, Chairman and CEO of Carrier Global Corporation, remarked: "Riello boasts a magnificent heritage and an exceptional team. We are fully confident that Ariston possesses the capabilities to guide Riello into its next phase of growth and further amplify the brand's value."
Maurizio Brusadelli, CEO of Ariston Group, expressed his enthusiasm: "We are honored to welcome the Riello team into the Ariston family. This collaboration unites the globally renowned Riello and Beretta brands in a powerful alliance with the Ariston brand. This strategic acquisition not only consolidates our market position in Italy but will also significantly enhance our influence within the international climate comfort market. We are poised to seize major value-creation opportunities through initiatives such as platformization, modularization, and the optimization of our procurement systems."
As a global practitioner of sustainable development, Ariston consistently optimizes its business ecosystem through a long-term investment strategy. The Group has previously completed numerous strategic acquisitions across the Asia-Pacific, European, and American markets, thereby strengthening its high-end manufacturing capabilities, enriching its product portfolio, and solidifying its regional footprint. From nearly a century of inherited Italian craftsmanship to the collaborative construction of a global ecosystem, Ariston remains steadfast in upholding its brand philosophy: "A sustainable world starts at home." Moving forward, the Group will continue to leverage the advantages of global industrial synergy, driving the upgrade of low-carbon products through technological innovation, and delivering a comfortable, eco-conscious lifestyle through products of exceptional Italian quality. By providing more efficient green energy solutions to the HVAC and climate comfort industry, Ariston aims to contribute significantly to the realization of global sustainable energy goals.