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Article: American Standard Announces Agreement to Sell Bath and Kitchen Business to Bain Capital for $1.755 Billion.
- Article from:
- PR Newswire
- Article date:
- July 23, 2007
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PISCATAWAY, N.J., July 23 /PRNewswire-FirstCall/ -- American Standard Companies Inc. 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 $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 $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 ...