Ariston Group to acquire Riello from Carrier Global for $430m.

Ariston Group, a provider of sustainable climate and water heating solutions, agreed to acquire Riello, a company that specializes in the production of heating and air conditioning products, from Carrier Global, an American multinational heating, ventilation, and air conditioning company, for $430m. "We are honored to welcome Riello into our organization. iello's respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group. We are committed to building on Riello's legacy and together, creating meaningful value for all stakeholders," Paolo Merloni, Ariston Group Executive Chairman.