Panasonic Corporation made an announcement regarding its acquisition of Hussmann Corporation ("Hussmann"), a Missouri-based manufacturer of refrigerated display cases and systems.

Panasonic has signed an agreement with Hussmann Parent Inc., the Delaware-based parent of Hussmann, and Clayton, Dubilier & Rice, LLC in New York, the representative of shareholders of Hussmann Parent, for Panasonic Group to acquire 100% of the shares of Hussmann Group including Hussmann Corporation in April of 2016.

This agreement will allow Panasonic to expand its display case business and food distribution solutions business in the United States, the biggest market for refrigerated and freezer display cases, as well as countries and regions around the U.S. and further to Australia and New Zealand.

As part of its growth strategy, Panasonic is looking to generate sales of 2.5 trillion yen in B2B solutions in 2018, of which 300 billion yen is expected to come from the food distribution solutions business.

The company has been promoting its energy-efficient and environmentally conscious refrigerated and freezer display cases for supermarkets and convenience stores -- one of its main products in the food distribution solutions business -- mainly in Japan, China and other parts of Asia, and has established its position in those markets. Meanwhile, new approaches have been sought to meet the demands of customers in the U.S.

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