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Chinese Conglomerate HNA Group To Buy Ingram Micro - ResidentialSystems.com

Chinese Conglomerate HNA Group To Buy Ingram Micro

Deal Will “Accelerate Strategic Investment,” Add Complementary Logistics Capabilities, Extend Geographic Reach
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Global tech distributor and supply-chain services giant Ingram Micro will be acquired for about $6 billion by Tianjin Tianhai, a logistics provider that is part of Chinese conglomerate HNA Group.

Ingram is the world’s largest IT distributor and parent of AVAD, the national distributor of products for the residential and commercial installation markets.

The Ingram and HNA boards have approved the transaction, expected to close in the second half. Ingram Micro will operate as a subsidiary of Tianjin Tianhai, whose largest stockholder is HNA.

HNA Group generated 2015 revenues of $29 billion through its interests in aviation, tourism and logistics. It employs almost 180,000 people worldwide.

Click here to read this story in full on our sister publication, TWICE.

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