LIXIL Corporation, which is headquartered in Tokyo, Japan, has announced that it has reached a definitive agreement to acquire 100 per cent of the share capital of ASD Americas Holding Corp., the parent company of American Standard Brands from an affiliate of Sun Capital Partners, Inc. On completion of the transaction, which is subject to regulatory approval, American Standard will remain headquartered in the U.S., and continue operating all existing facilities. A building products company, LIXIL Group has been actively expanding its global business with operations in more than 30 countries. According to LIXIL, the addition of American Standard will provide it with greater scale and more opportunities in North America. LIXIL already owns American Standard Brands in the Asia Pacific market. “This transaction marks an exciting chapter in our 137-year history,” said Jay D. 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.”
