LIXIL to Acquire ASD Americas Holding Corp., Parent of American Standard Brands

LIXIL to Acquire ASD Americas Holding Corp., Parent of American Standard Brands 
Kitchen & Bath Products Leader Will Serve as Platform for North American 
Presence as LIXIL Continues Globalization of Business 
TOKYO, June 28, 2013 /CNW/ - LIXIL Corporation (Headquarters: Tokyo, Japan; 
President: Yoshiaki Fujimori), today announced that it has reached a 
definitive agreement to acquire 100% of the share capital of ASD Americas 
Holding Corp., the parent company of American Standard Brands (Headquarters: 
New Jersey, US; President and CEO: Jay Gould, hereafter called "American 
Standard") at an enterprise value of $542 million (53.1 billion JPY, $1=98JPY) 
from an affiliate of Sun Capital Partners, Inc. ("Sun Capital") (Headquarters: 
American Standard is a leading North American manufacturer of a wide range of 
high quality 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, 1.4 trillion JPY ($15.3 billion, $1= 94.05JPY) building products 
company, has been actively expanding its global business.  LIXIL Group's 
international sales reached approximately 200 billion JPY, contributing over 
14% of the sales for the fiscal year ended March 31, 2013 and will increase to 
approximately 300 billion JPY comprising approximately 20% of LIXIL Group 
revenues. 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. The 
addition of American Standard will provide LIXIL with greater scale and more 
opportunities in North America, and will continue the growth of the 
international business towards its mid-term goals. 
Yoshiaki Fujimori, President of LIXIL Corporation, said, "American Standard is 
the leader in the kitchen and bath products market with a deep history of more 
than 130 years.  LIXIL is targeting 1 trillion JPY sales revenue in its 
international businesses, with the goal for the international business to grow 
to approximately 30% of total LIXIL Group revenues.  American Standard will 
serve as a key platform for LIXIL as we continue to fulfill our ambitions to 
become a worldwide leader in the building materials and housing equipment 
market. LIXIL already owns the American Standard brand in the Asia Pacific 
market, and this transaction will strengthen the brand and the company's 
considerable manufacturing capabilities and technological best practices." 
"This transaction marks an exciting chapter in our 137-year history," said Jay 
Gould, American Standard Brands President and CEO. "We and our customers will 
surely benefit by combining LIXIL's quality control, manufacturing technology 
and product development with American Standard's sales networks, and I believe 
these will help the company maintain our position as a market leader." 
"The market leadership that American Standard enjoys today has been fueled by 
considerable operational improvements, an expanded product platform achieved 
through four strategic acquisitions, and a commitment to innovation," said 
Marc Leder, Co-CEO at Sun Capital, a leading private investment firm 
specializing in leveraged buyouts and investments in market–leading 
companies. "I expect LIXIL will continue to invest in these strategies, and 
that the combined technology and product development capabilities of American 
Standard and LIXIL will ensure significant progress in the years ahead." 
About LIXIL Corporation       LIXIL is Japan's largest manufacturer group for 
building materials and housing equipment and has more than 75,000 employees 
worldwide. The Group recorded net sales of 1.4 trillion JPY in FY ended March 
2013. It offers comprehensive solutions in housing and lifestyle and an 
extensive product lineup from windows, tiles, front doors, kitchens, 
bathrooms, and toilets under the brand name of American Standard (Asia 
Pacific), INAX and Tostem. 
In Japan, LIXIL is the biggest housing and building materials company with top 
share in eight different categories currently led by President Yoshiaki 
Fujimori. Those include approx. 55% share in exteriors, approx. 50% share in 
housing sashes/doors, approx. 50% in curtain walls and approx. 40% in sanitary 
wares. LIXIL also is a top brand in tiles, washstand cabinet units, bathroom 
units and kitchen units. LIXIL, through the integration, now has a vast and 
unique business portfolio. 
In the global market, its operations are led by group companies, such as 
Permasteelisa Group, which has strong presence in the curtain wall business 
with unmatched technology and designs. Their projects in the US include: New 
York by Gehry, One Bryant Park in NY and San Francisco Federal Building. 
For more information about LIXIL, please visit 
About American Standard      American Standard is a leading manufacturer of a 
wide range of high-quality kitchen and bath products for residential and 
commercial customers in the North America, Canada and Mexico. The company 
employs more than 5,000 people and markets products under the brand names of 
American Standard®, Jado®, Porcher®, Safety Tubs®, Crane Plumbing®, 
Eljer®, Fiat® and Decorative Panels International®. 
For more information about American Standard, visit: 
About Sun Capital Partners, Inc.     Sun Capital Partners, Inc. is a leading 
private investment firm focused on leveraged buyouts, equity, debt, and other 
investments in companies that can benefit from its in–house operating 
professionals and experience. Sun Capital affiliates have invested in more 
than 320 companies worldwide with combined sales in excess of $45 billion 
since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, 
Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, 
Luxembourg, Shanghai and Shenzhen. For more information, visit 
LIXIL Corporation-Global Company, PR Team, Miyuki Otomo,, or Stanton Public Relations & Marketing, Tom Faust, 
SOURCE: LIXIL Corporation 
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CO: LIXIL Corporation
-0- Jun/28/2013 06:27 GMT
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