Breaking News! Gerber Plumbing Fixtures Corp. Announces Sale
Gerber Plumbing Fixtures Corp. announced that it has completed a transaction in which most of the assets of Gerber have been sold to a new entity, Gerber Plumbing Fixtures LLC, owned primarily by Globe Union Group, Inc.
Gerber Plumbing Fixtures Corp., a leading manufacturer of faucets and vitreous china plumbing products, announced that it has completed a transaction in which most of the assets of Gerber have been sold to a new entity, Gerber Plumbing Fixtures LLC. Chicago-headquartered Globe Union Group, Inc. ("Globe Union") is the majority owner of Gerber Plumbing Fixtures LLC. Financial terms of the transaction were not announced. Gerber's 2002 revenues exceeded $100 million.
Gerber will operate as a standalone subsidiary of Globe Union. Ila Lewis, current Gerber chairman and granddaughter of founder Max Gerber, has been named chairman of the new company. She and certain other members of the Gerber family also hold a significant ownership stake in the new company.