A joint venture between GROHE Group
S.à r.l., Luxembourg, and LIXIL Corporation, Japan, has acquired 51 percent of the shares of new company GROHE DAWN Watertech Holdings Pty Ltd. The remaining 49 percent will continue to be owned by DAWN Ltd, South Africa. GROHE and LIXIL officially announced the successful completion of the transaction.
The acquisition consideration is around €62 million. The company comprises the sanitary fittings and sanitary ware brands of DAWN Ltd. From the acquisition, GROHE will gain new production facilities and an established distribution network in South Africa. This will give GROHE the opportunity to systematically step up its business activities on the African continent. The transaction makes LIXIL one of the leading suppliers of sanitary fittings in South Africa.
According to David J. Haines, CEO & Chairman of the Supervisory Board of the GROHE Group S.à r.l. and a member of LIXIL Corporation’s central Board of Directors, “The joint transaction by LIXIL and GROHE is a perfect fit with our strategy of improving the positioning of our brands worldwide. This acquisition will enable the GROHE Group in conjunction with its partner LIXIL to continue to grow sustainably and further expand its GROHE and JOYOU brands.”
About GROHE Group
GROHE Group comprises Grohe AG, Hemer,Joyou AG, Hamburg and other subsidiaries in foreign markets. GROHE Group is the world’s leading provider of sanitary fittings.
As a global brand for sanitary products and systems, GROHE relies on its brand values quality, technology, design and responsibility in order to be able to offer “Pure FreudeanWasser”.
The GROHE Group employs some 9,000 people on average worldwide (including around 3,400 at Joyou). There are about 2,300 employees working at GROHE in Germany. In 2012, the GROHE Group generated consolidated sales of €1,405 million.
The GROHE Group has nine production plants, of which six are located outside Germany, namely in Portugal, Thailand, Canada and China (Joyou). The company currently generates 85 percent of its sales outside Germany.
In January 2014, the GROHE Group has been taken over by the LIXIL Group and the Development Bank of Japan. The LIXIL Group is a global leader in the building materials and housing equipment industries.GROHE and JOYOU remain independent within the LIXIL Group.
About GROHE India Pvt. Ltd. (GIPL):
GROHE India Pvt. Ltd. (GIPL) is a wholly owned subsidiary of GROHE AG and has completed seven years of direct operations in India. In this time has acquired a dominant position in the Indian market as one of the largest selling foreign brands. GROHE launched its second Indian ‘GROHE Live! Centre’ in Mumbai in February 2012. This centre is a great opportunity for people to come and experience the world of GROHE. Besides featuring the entire range of GROHE products, the Live! Centre also showcases the GROHE elements of Quality, Technology and Design. GROHE has been recently awarded with two Good design Japan awards for its innovative products ‘Minta Touch‘ and ‘GROHE Blue mono‘, taking its 2013 tally to an impressive 18 awards. As an organisation, Grohe takes mutual responsibilities very seriously, examples of which can be seen with the successful launch of the Grohe Jal Academy at the Don Bosco Institute. This Academy trains underprivileged individuals to learn plumbing skills that can be utilised towards a lifelong vocation.
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