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Arneg Group Acquires Controlling Stake In Plug-In Norge

Published on Sep 5 2019 4:00 PM in Retail tagged: Trending Posts / Norway / Arneg Group / Plug-In Norge

Arneg Group Acquires Controlling Stake In Plug-In Norge

Arneg Group has announced that its Arneg Nordic division has agreed to purchase 70% of the shares in Plug-In Norge AS. As a result, Vibocold Plug-In Norge AS changes its name to Plug-In Norge AS and becomes an active part of Arneg Nordic.

Plug-In Norge operates in Norway, and the move strengthens the Arneg Group as a global leader in commercial refrigeration and complete equipment for the retail sector.

'A Natural Development'

"Arneg Nordic welcomes the dedicated and well-known Plug-In Norge team to Arneg Group," said Niklas Rindhagen, Dep. Managing Director, Arneg Nordic.

"For Arneg Nordic, the cooperation with Plug-In Norway is a natural development on the path to continue the scope of products and customer service in Norway. With refrigeration products and services that make every day easier for the customer, and more energy-friendly for our common planet, we look forward to meeting the high expectations from our existing and new clients."

Plug-In Norge was established in 2015 and has already become a leading player and specialist in plug-in refrigeration and freezing cabinets for the commercial market in Norway. It thus perfectly complements Kelvin AS, which is Arneg Nordic's specialist in turnkey refrigeration projects in Norway.

Plug-In Norge, already a distributor of Arneg Nordic and Oscartielle, is located in Tönsberg, with eight employees and a turnover of NOK 120 million (€12.1 million) in 2018.

Expansion And Development

Arneg Group said that it looks forward to continued expansion and development of the plug-in products range, with a special focus on customer satisfaction in Scandinavia and the Baltic countries.

Plug-In Norge's Per Otto Gjertsen (Managing Director), Ole Fredrik Eide (Product & Marketing Director), and Vidar Bakken (Sales Director) together retain the remaining 30% of the shares. All employees at Plug-In Norge continue their work in the business.

"We at Plug-In Norge are excited to continue to develop innovative plug-in solutions for the Norwegian market as a part of the Arneg family," Gjertsen commented. "Our experienced team at Plug-In Norge will remain in place to run the day to day business in Norway and together with our colleagues at Kelvin AS we will offer our customers access to the widest portfolio of products, services and expertise within the commercial refrigeration business in Norway."

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