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Tsis ntev los no, FBHS announced that it has completed the acquisition of Aqualisa Holdings (hereinafter referred to as Aqualisa) rau $160 lab (txog RMB 1.080 billion). FBHS owns well-known bathroom brands such as Moen and ROHL. Hauv thawj ib nrab ntawm lub xyoo, its water innovation business had sales of $1.294 billion (txog RMB 8.728 billion). The acquisition will strengthen FBHS’s global presence in the sanitary industry.
Spending about 1.08 billion yuan to acquire a British bathroom company
Lub Yim Hli 1, Lub sijhawm hauv zos, 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 rau kwv yees li $160 lab (kwv yees li RMB 1.080 billion).
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. Kuj, with the Aqualisa acquisition, Fbhs’ Water Innovation business will gain access to digital shower products across price points, technologies and regions, Tsav tsheb ua lag luam ntxiv.
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. Tam sim no, the company is headquartered in Westram, UK, and employs about 260 neeg. 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.
Thawj-ib nrab muag ntawm kwv yees li $27.183 billion
According to the recently released FBHS H1 2022 report, Lub tuam txhab ua tiav kev muag khoom ntawm $4.028 billion (kwv yees li RMB 27.183 billion) Txij Lub Ib Hlis Ntuj txog Rau Lub Rau Hli, nce ntawm 9% xyoo-rau-xyoo. Nyob rau tib lub sijhawm, Fbhs’ EBITDA was $373 lab, ib 6% decrease year-over-year.
By business, in the first half of the year, sales of FBHS’ water innovation business (plumbing business) tau $1.294 billion (kwv yees li RMB 8.728 billion), ib qho kev txo qis 2% xyoo dhau xyoo. Sales of the cabinet business, Xws li chav dej txee, tau $1.633 billion (kwv yees li RMB 11.014 billion), nce ntawm 11% xyoo dhau xyoo. Sales of outdoor and security products business were $1.102 billion (txog RMB 7.432 billion), nce ntawm 17% xyoo-rau-xyoo.
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. Txawm li cas los, 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 feem pua.
A review of FBHS’s annual reports published since its IPO shows that the company’s sales have doubled in 10 xyoo. Hauv 2011, FBHS sales were $3.3 billion, and have largely maintained a growth trend over the past 10 years since then. Los ntawm 2021, FBHS sales reached $7.7 billion, nce ntawm 26% los ntawm lub xyoo dhau los. Looking ahead to 2022, FBHS expects full-year sales growth to remain in the 6.5% rau 7.5% range. Earnings per share are in the range of $6.36 rau $6.50.
Acquired more than 20 companies in 50 xyoo
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.
Hauv 1970, the company acquired Master Lock, a security lock company.
Hauv 1988, the acquisition of Aristokraft and Waterloo
Hauv 1990, the acquisition of Moen
Hauv 1998, acquired Decora, Diamond, Kemper, Schrock
Hauv 2002, acquired Omega
Hauv 2003, acquired American Lock, Therma-Tru doors
Hauv 2007, acquired Simonton windows, Fypon millwork products
Hauv 2011, listed on the New York Stock Exchange
Hauv 2013, acquired Wood Crafters
Hauv 2014, acquired Sentrysafe and sold Simonton windows
Hauv 2015, acquired Norcraft, sold Waterloo
Hauv 2016, acquired Riobel, Perrin & Rowe and established Global Plumbing Group (GPG)
Hauv 2017, the acquisition of Shaws, Victoria + Albert
Hauv 2018, the acquisition of Fiberon
Hauv 2020, the acquisition of Larson storm doors
Hauv 2022, the acquisition of Aqualisa
