Hoshizaki Corporation has signed an agreement with SEAREFICO Corporation to acquire additional shares in ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (ARICO) in Vietnam. After the transaction is completed, Hoshizaki’s ownership in ARICO is set to rise from 51% to 99.616%.
The company said the additional share acquisition is intended to strengthen governance, speed up decision-making, and integrate business strategies. The transaction is expected in June 2026 and will be carried out through Hoshizaki Southeast Asia Holdings Pte. Ltd., the group’s regional headquarters in Singapore.
Since making ARICO a consolidated subsidiary in March 2025, Hoshizaki has been investing in production facilities and preparing its first Hoshizaki-brand manufacturing base in Southeast Asia within ARICO’s existing factory in Ho Chi Minh City. Commercial refrigerators produced at the factory are scheduled to begin shipping in early April and will also go on sale in Vietnam through Hoshizaki Vietnam Corporation.
ARICO, established in October 2007, manufactures and sells commercial and industrial freezers and food processing equipment. The company has two production facilities in Ho Chi Minh City as of March 26, 2026, and 99 employees as of the end of December 2025.
