Editor's Note
This editor’s note highlights the key facts and market implications behind “Billion-Dollar Deal: Japanese Company Buys Bathr”, with emphasis on sourcing, product fit, fabrication, logistics, or buyer impact.
Düsseldorf – The bathroom fittings manufacturer Grohe is being acquired by the Japanese Lixil Group. Lixil, together with the Development Bank of Japan, is acquiring 87.5 percent of the shares, Grohe announced on Thursday in Düsseldorf.
The management of Lixil has reached an agreement with the shareholders of Grohe, as the Japanese business newspaper "Nikkei" had reported earlier on Thursday.
The purchase price, including debt, is said to be around 400 billion yen (approximately 3 billion euros). Earlier in the week, Japanese and US media had reported on Lixil's plans. The acquisition could be one of the largest purchases by a Japanese company in Germany to date.
The German fittings manufacturer Grohe is owned by international financial investors. These include TPG Capital and the Swiss bank Credit Suisse. According to its own information, the Grohe Group employs around 9,000 people worldwide, 2,300 of whom work at three German production sites. The Grohe Group generated sales of 1.4 billion euros in 2012.
Source: Read the original article | Published: September 26, 2013