The combined sanitary businesses of both groups generate more than EUR 4 billion of annual revenue, making it the largest player in its industry.
Japanese-based LIXIL Corp. has formed a 50-50 joint venture with the state-backed Development Bank of Japan to buy 87.5% of GROHE Group from TPG and DLJ Merchant Banking Partners. This transaction represents the largest ever German investment by a Japanese company. 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 and its subsidiary Joyou remain independent within LIXIL Corp. GROHE will continue to implement its plan for long-term sustainable growth, including becoming a leading consolidator in the global sanitary industry.