GROHE and LIXIL acquire 51 percent of GROHE DAWN Watertech Holdings Pty Ltd / GROHE Group expands sanitary ware business in Africa / Improved international positioning for global brands GROHE and LIXIL
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.”