New Owners For Jacuzzi Brands

New Owners For Jacuzzi BrandsThe most recognised spa brand in the world, Jacuzzi, and its stable of multiple hot tub brands, are under new ownership. An investment subsidiary of Investindustrial has entered into a definitive agreement to acquire Jupiter Holding Corporation, owner of the spa and bath products brands, among them Jacuzzi. Terms of the transaction have not been disclosed but the deal is expected to be completed in the first quarter of 2019. The acquisition includes Jacuzzi®, Sundance®, Dimension One Spas®, Hydropool®, ThermoSpas® and BathWraps®. Founded in 1956 by the Jacuzzi family, the combined Jacuzzi Brands generated revenues of approximately $500 million in the fiscal year 2018. It operates eight facilities across North America, Europe and South America with over one million sq. ft. of manufacturing space and has its main European manufacturing facility in north eastern Italy. Jacuzzi Brands will have access to Investindustrial’s relationships, including world class designers, to accelerate the company’s growth through innovation, product development and R&D. Investindustrial has a history of more than 28 years of successfully partnering with premium brands such as Aston Martin and Ducati and leading global home design businesses such as B&B Italia, Flos and Louis Poulsen. Investindustrial has invited Nottingham Spirk Design Associates, Inc. (“Nottingham Spirk”) to be a business innovation and product design partner and to co-invest in the company as a minority shareholder. Andrea C. Bonomi, Investindustrial’s Chairman of the Industrial Advisory Board commented: “We are delighted to welcome Jacuzzi to join our portfolio of investments in premium brands. “Investindustrial has enjoyed success in supporting businesses with iconic brands operating in the home design sector. “Jacuzzi Brands is a company with Italian heritage and is a globally recognised brand with a quality management team. We are excited about the opportunity to contribute to Jacuzzi Brands’ next phase of development. “We see significant untapped potential and will work closely with management to grow the business through product innovation and an expansion of the company’s footprint.” Investindustrial has designated Charles “Chuck” Huebner as the incoming Executive Chairman of Jacuzzi Brands. Most recently, Huebner was CEO of Dacor, Inc., which designs, manufactures and markets a full range of premium kitchen appliances. Huebner commented: “Investindustrial’s success in supporting management teams and building premium brands will be crucial in consolidating our presence in North America and Europe and expanding into new markets; Nottingham Spirk will help the company develop innovative new products that best meet consumer needs. “Our new ownership will provide significant resources to invest behind our dealer partners with new marketing programs.”  New Owners For Jacuzzi Brands2