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

Orihinal nga Kusina & Bath Kitchen & Bath Headlines

Bag-o lang, FBHS announced that it has completed the acquisition of Aqualisa Holdings (hereinafter referred to as Aqualisa) for $160 milyon (mahitungod sa RMB 1.080 bilyon). FBHS owns well-known bathroom brands such as Moen and ROHL. Sa unang katunga sa tuig, its water innovation business had sales of $1.294 bilyon (mahitungod sa RMB 8.728 bilyon). The acquisition will strengthen FBHS’s global presence in the sanitary industry.

 

Spending about 1.08 billion yuan to acquire a British bathroom company

Niadtong Agosto 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 milyon (approximately RMB 1.080 bilyon).

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. Usab, 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. Sa pagkakaron, the company is headquartered in Westram, UK, and employs about 260 mga tawo. 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 bilyon

According to the recently released FBHS H1 2022 report, the company achieved sales of $4.028 bilyon (approximately RMB 27.183 bilyon) from January to June, pagdugang sa 9% year-on-year. During the same period, FBHS’ EBITDA was $373 milyon, a 6% decrease year-over-year.

By business, in the first half of the year, sales of FBHS’ water innovation business (plumbing business) mga $1.294 bilyon (approximately RMB 8.728 bilyon), a decrease of 2% year-over-year. Sales of the cabinet business, including bathroom cabinets, mga $1.633 bilyon (approximately RMB 11.014 bilyon), pagdugang sa 11% year-over-year. Sales of outdoor and security products business were $1.102 bilyon (mahitungod sa RMB 7.432 bilyon), pagdugang sa 17% year-on-year.

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. Hinuon, 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 percent.

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

 

Acquired more than 20 companies in 50 mga tuig

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.

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

Sa 1988, the acquisition of Aristokraft and Waterloo

Sa 1990, the acquisition of Moen

Sa 1998, acquired Decora, Diamond, Kemper, Schrock

Sa 2002, acquired Omega

Sa 2003, acquired American Lock, Therma-Tru doors

Sa 2007, acquired Simonton windows, Fypon millwork products

Sa 2011, listed on the New York Stock Exchange

Sa 2013, acquired Wood Crafters

Sa 2014, acquired Sentrysafe and sold Simonton windows

Sa 2015, acquired Norcraft, sold Waterloo

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

Sa 2017, the acquisition of Shaws, Victoria + Albert

Sa 2018, the acquisition of Fiberon

Sa 2020, the acquisition of Larson storm doors

Sa 2022, the acquisition of Aqualisa