‘Investments totalling 500 million to drive growth at Ariston and Riello’
Ariston’s chairman, Paolo Merloni, outlines the post-merger strategy: ‘Focus on shared platforms and synergies in logistics and procurement’
“This will not be a development plan for Riello, but for Ariston. We will grow together, integrating two strong brands – Riello and Beretta – into our portfolio.” Paolo Merloni, chairman of the Ariston Group, is ready to realise all the anticipated synergies following the completion of the deal that saw him acquire Riello from the American multinational Carrier for 289 million. A solution (“the right owner”, as the Americans themselves put it) that has brought the iconic heating and thermal comfort brand back into Italian hands.
What is the rationale behind this operation?
It complements Ariston’s business perfectly, with around half of its turnover coming from the Italia market, unlike us, who are more exposed to overseas markets. Italia will account for almost 15 per cent of the new Group’s total sales. With Riello’s €400 million in revenue, we will exceed the €3 billion mark in total turnover.
Will the integration of Riello be more effective in restoring Ariston’s balance on the domestic market or in capitalising on cross-selling opportunities abroad?
The benefits will be mutual. We are ready to invest in shared platforms, raising the Riello brand to the level it deserves
