Hoshizaki Corporation agreed to acquire majority stake in Technolux Equipment and Supply Corporation and HKR Equipment Corporation from TECHNO HOLDINGS CORPORATION and William A. Stelton for PHP 4.2 billion.

Hoshizaki Corporation (TSE:6465) agreed to acquire majority stake in Technolux Equipment and Supply Corporation and HKR Equipment Corporation from TECHNO HOLDINGS CORPORATION and William A. Stelton for PHP 4.2 billion on April 11, 2024. Hoshizaki Corporation will acquire 100% stake comprising of 200 million shares of TECHNOLUX for PHP 2.9 billion and 80% stake comprising of 0.8 million shares of HKR for PHP 1.3 billion. The acquisition is expected to close in May 2024.