The Tokyo-based LIXIL Corp. announced that it has reached an agreement to acquire 100 percent of the share capital of ASD Americas Holding Corp., the parent company of American Standard Brands at an enterprise value of $542 million.
American Standard is a North American manufacturer of kitchen and bath products. On completion of the transaction, which is subject to regulatory approval, the company will remain headquartered in the U.S. and continue operating all existing facilities.
LIXIL Group, a $1.4 trillion building products company, has been actively expanding its global business. LIXIL’s global operations are present in more than 30 countries. In North America, Permasteelisa Group, a high-end curtain wall contractor owned by LIXIL Group, has existing revenues of approximately 30 billion JPY.