Sales In The First Half Of The Year Exceeded 27 ቢሊዮን! This Home Giant Has Acquired Another Bathroom Company

Original Kitchen & የመታጠቢያ ገንዳ & የመታጠቢያ ዋና ዜናዎች

ሰሞኑን, FBHS announced that it has completed the acquisition of Aqualisa Holdings (hereinafter referred to as Aqualisa) for $160 ሚሊዮን (about RMB 1.080 ቢሊዮን). FBHS owns well-known bathroom brands such as Moen and ROHL. In the first half of the year, its water innovation business had sales of $1.294 ቢሊዮን (about RMB 8.728 ቢሊዮን). The acquisition will strengthen FBHS’s global presence in the sanitary industry.

 

Spending about 1.08 billion yuan to acquire a British bathroom company

On August 1, local time, FBHS announced that it has acquired Aqualisa, a British bathroom brand known for its innovative and intelligent shower systems and customer service. The acquisition was completed on July 29 for approximately $160 ሚሊዮን (approximately RMB 1.080 ቢሊዮን).

Nicholas Fink, CEO of FBHS, said the acquisition is a key strategy for the company in the water sector. As a member of the Water Innovation business, Aqualisa will enable the company to provide strong momentum in water management, connected products and global sustainability. Also, with the Aqualisa acquisition, FBHS’ Water Innovation business will gain access to digital shower products across price points, technologies and regions, driving further business growth.

Nicholas Fink also said that Aqualisa is a great addition to the company’s bathroom brands such as Moen and ROHL. They will leverage strong marketing capabilities and a continuously growing water innovation platform to expand sales in the U.S., U.K. and Europe, and enter new markets in the future.

According to public information, Aqualisa was founded in 1976 and is a leading manufacturer of intelligent shower products. It has a strong reputation in the UK market for shower products manufactured and marketed primarily under the Aqualisa brand. በአሁኑ ግዜ, the company is headquartered in Westram, UK, and employs about 260 ሰዎች. As previously reported, Aqualisa replaced its chief executive officer not long ago. Mat Norris has replaced Colin Sykes, who had held the position since 2018. The latter will continue to serve as a non-executive director and strategic advisor to the company.

 

First-half sales of approximately $27.183 ቢሊዮን

According to the recently released FBHS H1 2022 ሪፖርት አድርግ, the company achieved sales of $4.028 ቢሊዮን (approximately RMB 27.183 ቢሊዮን) ከጥር እስከ ሰኔ, ጭማሪ 9% ከዓመት እስከ አመት. During the same period, FBHS’ EBITDA was $373 ሚሊዮን, ሀ 6% decrease year-over-year.

By business, in the first half of the year, sales of FBHS’ water innovation business (plumbing business) were $1.294 ቢሊዮን (approximately RMB 8.728 ቢሊዮን), a decrease of 2% year-over-year. Sales of the cabinet business, including bathroom cabinets, were $1.633 ቢሊዮን (approximately RMB 11.014 ቢሊዮን), ጭማሪ 11% year-over-year. Sales of outdoor and security products business were $1.102 ቢሊዮን (about RMB 7.432 ቢሊዮን), ጭማሪ 17% ከዓመት እስከ አመት.

In its semi-annual report, FBHS mentioned price adjustment measures, saying that it delivered strong results in the second quarter as inflation was fully offset by price and cost-related measures. They also said that sales of outdoor and safety products and cabinet products all grew, driven by these measures. ቢሆንም, sales in the Water Innovations business declined 6 percent in the second quarter due to the impact of the outbreak-related shutdown in China, and when China is removed, Water Innovations sales had a 4 percent growth rate and an operating margin of approximately 24.9 በመቶ.

A review of FBHS’s annual reports published since its IPO shows that the company’s sales have doubled in 10 ዓመታት. ውስጥ 2011, FBHS sales were $3.3 ቢሊዮን, and have largely maintained a growth trend over the past 10 years since then. By 2021, FBHS sales reached $7.7 ቢሊዮን, ጭማሪ 26% from the previous year. Looking ahead to 2022, FBHS expects full-year sales growth to remain in the 6.5% ወደ 7.5% range. Earnings per share are in the range of $6.36 ወደ $6.50.

 

Acquired more than 20 companies in 50 ዓመታት

As a giant company, although FBHS is not as well known in China as subsidiaries such as Moen and ROHL, the development of this company is a typical example of the growth of the home industry through acquisition. It can be said that the history of FBHS is a history of brand acquisitions.

ውስጥ 1970, the company acquired Master Lock, a security lock company.

ውስጥ 1988, the acquisition of Aristokraft and Waterloo

ውስጥ 1990, the acquisition of ሞይን

ውስጥ 1998, acquired Decora, Diamond, Kemper, Schrock

ውስጥ 2002, acquired Omega

ውስጥ 2003, acquired American Lock, Therma-Tru doors

ውስጥ 2007, acquired Simonton windows, Fypon millwork products

ውስጥ 2011, listed on the New York Stock Exchange

ውስጥ 2013, acquired Wood Crafters

ውስጥ 2014, acquired Sentrysafe and sold Simonton windows

ውስጥ 2015, acquired Norcraft, sold Waterloo

ውስጥ 2016, acquired Riobel, Perrin & Rowe and established Global Plumbing Group (GPG)

ውስጥ 2017, the acquisition of Shaws, Victoria + Albert

ውስጥ 2018, the acquisition of Fiberon

ውስጥ 2020, the acquisition of Larson storm doors

ውስጥ 2022, the acquisition of Aqualisa