Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, announced today that its majority-owned subsidiary Hansgrohe SE has entered into an agreement to purchase a majority stake in the Dutch company Easy Sanitary Solutions (ESS) B.V. headquartered in Oldenzaal, The Netherlands. ESS is the inventor, developer and manufacturer of Easy Drain shower channels and offers a wide range of products for barrier-free showering and bathroom wall niches. ESS will operate as a subsidiary of Hansgrohe SE.
Terms of the transaction were not disclosed, and the agreement contains customary representations, warranties, and covenants. The closing of the sale is expected to occur during the first quarter of 2021, subject to customary closing conditions and regulatory review.
Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.
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