SOURCE: Jacuzzi Brands Corp.
December 21, 2012 09:00 ET
CHINO HILLS, CA--(Marketwire - Dec 21, 2012) - Jacuzzi Brands Corp. today announced the closing of a transaction that sells its UK-based Private Label Bath and Sinks business to HLD Capital via a stock sale of its Spring Ram Corp. subsidiary. Jacuzzi will retain its UK Spa, Jacuzzi® Branded Bath and Jacuzzi France businesses and will operate under a newly formed UK company called Jacuzzi Spa and Bath Limited. HLD Capital purchased all remaining assets of Spring Ram Corp., including the Astracast® brand, Private Label Bath and Stainless Steel Products, Ltd. in Malta (all UK real property), and will continue to operate the former entity that maintains the Jacuzzi UK Pension Scheme.
The sale is consistent with the company's strategy of focusing on branded consumer products.
About Jacuzzi Brands Corp.
Jacuzzi Brands Corp., through its subsidiaries, is a global manufacturer and distributor of high quality and innovative branded bath, plumbing and backyard products for the residential, commercial and institutional markets. Its product offerings include whirlpool baths, air baths, soaking baths, outdoor hot tubs, showers, sink and toilet suites, as well as fixtures and accessories. Its products are marketed under a widely recognized portfolio of famous brand names including the flagship Jacuzzi® and Sundance® brands.
Forward Looking Statements:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Section 21E of the Securities Exchange Act of 1934, as amended.
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