American Standard Companies Announces Completion of Sale of Bath and Kitchen Business to Bain Capital.
PR Newswire Europe, October, 2007
PISCATAWAY, New Jersey, October 31 /PRNewswire/ --
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American Standard Companies Inc. (NYSE: ASD) today announced completion of the sale of its global Bath and Kitchen products business to funds advised by Bain Capital Partners, LLC, a leading private investment firm, for US$1.745 billion including closing adjustments. A definitive sales agreement had been announced on July 23, 2007.
The Bath and Kitchen products business had 2006 sales of US$2.4 billion, 26,000 employees and 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),...
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