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Swaargewig! Leading US Bathroom Brand Acquired

Kombuis & Badkameropskrifte

Assa abloy, the world’s leading provider of smart locks and security solutions, recently announced that it will acquire the hardware and home division of US company Spectrum Brands for US$4.3 billion (approximately RMB27.741 billion). Spectrum Brands owns Pfister, a leading US bathroom brand that entered the China market in 2014, and it is unknown whether the acquisition will have any impact on its China operations.

Pfister Group sells hardware and home business for RMB27.7 billion

Op 8 September local time, Sweden-based global security giant ASSA ABLOY announced that it had signed a definitive agreement to acquire the hardware and home division (Hhi) of US-listed consumer goods company Pinnacle Group for US$4.3 billion (approximately RMB27.7 billion). The transaction is expected to close in the fourth quarter of 2021.

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Skermkiekie van die aankondiging van Assa Abloy

Volgens die aankondiging, Pinnacle Group is a leading supplier of residential security, loodgieterswerk en bouprodukte in Noord -Amerika, offering a diverse range of products such as locks, faucets and decorative materials to the market. Headquartered in Lake Forest, Kalifornië, HHI employs approximately 7,500 people worldwide and has offices in the United States, Mexiko, China en die Filippyne, and ASSA ABLOY’s strong partnerships with a large number of customers will also benefit from this acquisition. Pinnacle Group

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Pinnacle Group

Kommentaar oor die verkryging, ASSA ABLOY President and CEO Nico Delvaux said it was an excellent addition to the Group and would boost the company’s North American operations. Op dieselfde tyd, HHI se produkte sal die groep se markposisie versterk en die maatskappy se oorgang na digitale ontwikkeling verder dryf.

Aan die ander kant, David Maura, CEO of Pinnacle Group, noted that the sale of the HHI division was aimed at reducing the company’s debt and investing in growth. In die toekoms, the company will acquire the Global Pet Care and Home&Tuinondernemings, terwyl hy sy huis- en persoonlike sorgafdeling verhoog. Oor die redes vir die verkoop van HHI, he noted that the division’s products were “duursame en lae aankoopfrekwensie”, Anders as die groep se ander produkte. It said the move would drive growth in the HHI division andbenefit consumers worldwide”. Opmerklik, the divestment of HHI follows the sale of Rayovac’s battery business to Energizer Holdings, 'n toonaangewende wêreldwye batteryvervaardiger, in 2019.

 

Bathroom brands Pfister and Fortis sold in apackage

Pfister Group is a global consumer goods company. Sy produkte sluit in huishoudelike toestelle, persoonlike sorg, hardeware, huishouding, pet and gardening. The HHI division of the group owns brands such as Kwikset, Sieg, EME, Kaalwin, Nasionale hardeware, Pfister and Fortis. Sy produkte is hoofsaaklik betrokke by deurslotte, deurhandvatsels, badkamers, loodgieterswerk, ens.

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Die HHI -afdeling sluit in 8 Belangrike handelsmerke

Tussen hulle, Pfister is 'n bekende Amerikaanse badkamerhandelsmerk, gevestig in 1910. It has been in existence for over 100 jare. The Chinese name of Pfister isPiao Fei”. In Mei 2014, Pfister held a launch event in Shanghai to announce its entry into the Chinese market. It currently has a flagship shop in Shenzhen. Volgens die openbare inligting van AIC, the Pfister brand in China is currently operated by Shenzhen BOSBELL Household Co. The company is located in Bao’an District, Shenzhen.

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Pfister -kraanprodukte

Fortis, Aan die ander kant, is an Italian brand based in the Pogno region. The Fortis product range is similar to that of Pfister and also focuses on faucet hardware. It focuses on the middle to high-end consumer segment.

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Fortis Faucet Products

According to Pinnacle Group’s fiscal year 2020 finansiële verslag, the company achieved sales of US$3,964 million in the previous fiscal year, of which the HHI division accounted for US$1,342 million. Die finansiële verslag het aan die lig gebring dat badkamerprodukte verantwoordelik was 21% van die inkomste van die HHI -afdeling, meaning that bathroom products contributed approximately US$281 million in revenue.

 

A number of bathrooms, cabinet companies have sold their business or operating rights

Onlangs, many foreign bathrooms and cabinet companies have successively sold their shares or their businesses. Roca het onlangs aangekondig dat hy die verkoop van sy teëlonderneming voltooi het. The purchaser, the Mexican La Mossa Group, made the acquisition for a total of US$260 million after taking out loans of US$200 million from seven banks. Poolse badkameronderneming Capricorn SA het ook onthul dat hy al sy uitgereikte aandele aan die Finse HVAC -reus sal verkoop. As for cabinetry companies, US-based Corsi also recently announced the transfer of ownership of the company from Pat Corsi to Mark Earl in a transaction that took effect on 31 Augustus.

Daarby, there are also companies that are keen to transfer their operations but have had to end their operations due to the lack of a suitable transaction partner. As previously reported by Kitchen & Badkameropskrifte, German cabinetry company Neue Alno had been actively looking for an investor to take over the company, but the company recently said that it had no suitable candidate for the deal. The company will end operations at the end of September and for some undelivered orders, the company will try to complete delivery. Neue Alno is said to have previously attracted the attention of Chinese real estate giant Beyoncé, but in the end the two sides did not reach a partnership. Die aankondiging van die beëindiging van bedrywighede het baie plaaslike handelaars en praktisyns in Duitsland gelaat oor die situasie.

Review of the cabinetry, business industry development so far this year, divest secondary business and focus on the main business to become the main reason for companies to sell subsidiaries, Submerke. In the industry consolidation degree accelerated today, these have done subtractions for business operations and promote the practice of value growth in established areas. This undoubtedly provides a new possibility for the development of enterprises.

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