American Standard Announces Agreement to Sell Bath and Kitchen Business to Bain Capital for US$1.755 Billion.
PR Newswire Europe, July, 2007
PISCATAWAY, New Jersey, July 23 /PRNewswire/ --
American Standard Companies Inc. (NYSE: ASD) today announced that it has signed a definitive agreement to sell the company's worldwide Bath and Kitchen products business to funds advised by Bain Capital Partners, LLC, a leading global private investment firm, for US$1.755 billion in cash.
Upon completion of the sale, Bain Capital will acquire all of American Standard's Bath and Kitchen business with 2006 annual sales of US$2.4 billion, 26,000 employees and 54 production facilities in 23 countries worldwide. The business manufactures and markets industry-leading products under brand names such as American Standard(R), Ideal Standard(R), Armitage Shanks(R), Porcher(R), Jado(R), Ceramica Dolomite(R) and...
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