Original equipment and aftermarket supplier Airxcel announces it has acquired Italian cookware supplier, CAN S.r.l., signaling an expansion into Europe and the formation of Airxcel Europe.
The transaction is expected to close in September, according to a press release. The new subsidiary will be led by former CAN partner and caravan industry veteran Paolo Moresco.
Moresco founded SMEV more than 40 years ago to supply RV cookware and appliances to the European RV market. That company was acquired by Dometic in 2007. He later bought a controlling interest in CAN and negotiated an exclusive partnership with Airxcel’s Suburban division for the distribution of Italian cooktops to the North American RV market.
Lorenzo Bellini, a partner with Moresco in CAN and the founder’s son, will remain with the company as product manager.
Airxcel says the CAN acquisition will be “the first of many as Airxcel expands its geographic footprint and demonstrates a long-term commitment to the European caravan and motorhome markets” Airxcel President and CEO Jeff Rutherford says.