Daikin Industries Ltd., through its subsidiary Daikin Europe N.V., has announced it will acquire Zanotti S.p.A., an Italian manufacturer of commercial refrigerators and freezers. The acquisition price is 98 million euros. Finalization of the transaction is expected by the end of June 2016. Daikin intends to utilize the acquisition to expand its refrigerator and freezer business in Europe. Zanotti has developed a wide range of products for the cold chain, from those used in food production and transportation to those found at retailers. With an extensive sales and service network in each country of Europe, Zanotti has established production facilities not only in Italy but also in the United Kingdom and Spain. Daikin stated that beginning with Europe, it will advance its commercial refrigerator and freezer business in Asia, the United States and China where significant market growth is anticipated.