MANILA, Philippines—In September 2013, headlines around the world announced that Lixil and the Development Bank of Japan acquired an 87.5 percent equity interest in GROHE. With an implied Enterprise Value of EUR 3.06 Billion, this is the largest ever German investment by a Japanese company. The transaction was fully realized in Q1 2014. GROHE stays on track with its strategy of sustainable growth, as it continues to be a consolidator in the international sanitary industry, now fully supported by LIXIL.
The combined sanitary businesses of both groups generate more than EUR 4 Billion of annual revenue, making it the largest player in its industry.
GROHE operations remain independent within LIXIL: the strength of its market leadership, performance and profitability ensure the sustainability and continuity of its plans for long-term, sustainable and profitable growth. With the support of LIXIL, this will also include becoming a leading consolidator in the global sanitary industry, which is still characterized by a high degree of fragmentation.
David J Haines, Chief Executive Officer of GROHE stated:
“For GROHE, LIXIL is a perfect match. It is currently building a strong track record as a global leader in the building materials and housing equipment industry. As a growth-oriented company, LIXIL has always been the preferred partner to support us with our growth strategy, especially in emerging markets.”
Grohe Spa: The Showroom Event of the Year
Recognized in the country as an icon of premiere high quality sanitary fittings, the Philippine office of this global brand launches on April 29, 2014, the first GROHE SPA showroom in the country, in a strategic location across the bustling city scape of Eastwood. Housed in the ground floor of a high – concept, low- rise structure named Desigño Atelier, the Grohe flagship showroom in the country mirrors other showrooms located in New York, Milan and Singapore.
Grohe Philippines Inc.’s Country Manager Alen Alban spearheaded the media launch of Grohe Spa with a formal opening graced by the Cultural Attache of the Embassy of the Federal Republic of Germany, Mr. Michael Fuchs, together with the Grohe’s Mr. Bijoy Mohan, President of Asia Pacific for GROHE; Mr. William Belo, President and CEO of Wilcon Builder’s Depot , the exclusive distributor of Grohe in the Philippines, and Grohe Vice President for Singapore, Philippines, Cambodia, and Taiwan, Mr. Alpha Ang. Already dubbed as the Showroom Event of the Year, the launch was attended as well by celebrated architects and designers and elite members of the press from print and broadcast as well as social media.