HOSHIZAKI CORPORATION completed the acquisition of shares of two foodservice equipment import and sales companies in the Republic of the Philippines on May 29th and made them subsidiaries. Hoshizaki aims to strengthen its sales structure in the Philippines, where the market has a high potential for growth, and expand its sales channels in the country.
Through HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD., a subsidiary of Hoshizaki and its Southeast Asia regional headquarters, Hoshizaki acquired 100% of the outstanding shares of TECHNOLUX EQUIPMENT AND SUPPLY CORPORATION and 80% of the outstanding shares of HKR EQUIPMENT CORPORATION.
Hoshizaki is working to expand its business area in the Philippines and Southeast Asia, where the markets have a high potential for growth, with the aim of increasing sales and market share overseas, which will be the core of future growth.
In 2017, Hoshizaki established HOSHIZAKI PHILIPPINES CORPORATION as a local subsidiary in the Philippines, and is working to expand sales of the Hoshizaki Group products in the Philippines. In Southeast Asia, in order to maximize synergies within the region, in July 2023, Hoshizaki Southeast Asia was established to supervise local subsidiaries in six countries: the Philippines, Singapore, Indonesia, Thailand, Malaysia, and Vietnam. In the same month, with the aim of strengthening the service system in the region, Hoshizaki established a Southeast Asia Service Center in Thailand, and is providing training for Hoshizaki engineers and service staff at distributors and repair contractors in the region.
Technolux and HKR Equipment Corporation are both leading import and sales companies in the Philippines, previously owned by the holding company Techno Holdings. These companies handle a wide range of products from prominent food service equipment manufacturers outside the country and excelled in after-sales service and equipment maintenance. While Technolux has a track record of delivering products to hotel chains and restaurant chains, HKR Equipment mainly sells products to major restaurants, and both companies provide products tailored to the customer.
Hoshizaki Philippines provides products and services through local sales and repair dealers, and has done business with both companies. Through the consolidation of the two companies, Hoshizaki strives to leverage the extensive networks of the companies within the Philippines to expand the sales of Hoshizaki products. Hoshizaki will share its know-how in the after-sales service business of both companies to increase added value and strengthen our service system in the Philippines.
Hoshizaki will continue to expand its business in the Philippines and Southeast Asia together with the experienced management teams of the two companies that knows the market well.
