Social Media

Connect with us!
Connect with PM on Facebook, Twitter and YouTube

Latest News / Bath & Kitchen / Vendor & Supplier News

LIXIL to acquire GROHE Group

The combined sanitary businesses of both groups generate more than EUR 4 billion of annual revenue, making it the largest player in its industry.

October 7, 2013
Trans

Japanese-based LIXIL Corp. has formed a 50-50 joint venture with the state-backed Development Bank of Japan to buy 87.5% of GROHE Group from TPG and DLJ Merchant Banking Partners. This transaction represents the largest ever German investment by a Japanese company. The combined sanitary businesses of both groups generate more than EUR 4 billion of annual revenue, making it the largest player in its industry.

GROHE and its subsidiary Joyou remain independent within LIXIL Corp. GROHE will continue to implement its plan for long-term sustainable growth, including becoming a leading consolidator in the global sanitary industry.

Chief Executive Officer of GROHE David J. Haines will remain in this position and has signed a new five-year contract. LIXIL and Development Bank of Japan will have seats on the supervisory board of the holding company of GROHE Group S.à.r.l. in Luxemburg.

“For GROHE and Joyou, LIXIL is a perfect match,” said Haines. “It is currently building a strong track record as a global leader in the building materials and housing equipment industry. As a growth-oriented company, LIXIL has always been the preferred partner to support us with our growth strategy, especially in emerging markets.

For Joyou in particular, this new partnership will be of enormous benefit, as our ability to grow and strengthen the brand in the Asia-Pacific region will be enhanced.”

 “GROHE is one of the most well-known brands in the global sanitary market,” said LIXIL President Yoshiaki Fujimori. “In addition to its high standards for quality, GROHE has received high acclaim globally for its leading product design and innovation. We have great respect for what CEO David Haines and his management team have achieved — bringing GROHE into the LIXIL family allows us to make further progress in building the leading platform in the global sanitary industry whilst also strengthening our distribution network in Asia.”

The transaction is expected to close in Q1 2014.

 


HELPFUL LINKS:

Source: GROHE Group

Did you enjoy this article? Click here to subscribe to Plumbing & Mechanical. 

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

THE MAGAZINE

Plumbing and Mechanical

March 2014

2014 March

In the March issue of Plumbing & Mechanical, read about the 'living in place' movement and learn how to make your space stylish and comfortable. PM catches up with MCAA president Chuck Fell and spoke with him about his goals for the year. Also in this issue, see the top products of 2013, see who is the March Truck of the Month, and read the latest Tool Tips.
Table Of Contents Subscribe

Trade Associations

Are trade association memberships and participation beneficial to your company?
View Results Poll Archive

The Plumbing and Mechanical Store

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Truck of the Month

Truck of the month

Are you proud of how your service truck looks? Do the graphics give people whiplash as they drive by? Have your calls increased because people remember your truck — and your company name? If so, we’d like to see it, too! Click here to find out how your service truck could be chosen as PM's Truck of the Month.

 

STAY CONNECTED

Connect to PM on Facebook Connect to PM on Twitter  Watch PM on YouTube    Connect to PM on Linked In