Investindustrial Completes Acquisition of Jacuzzi Brands
An investment subsidiary of Investindustrial VI L.P. completed the previously announced acquisition of Jupiter Holding I Corp., owner of several spa and bath products brands, among them Jacuzzi.
In conjunction with the acquisition, the company has appointed Charles “Chuck” Huebner as the new CEO of Jacuzzi Brands. Most recently, Huebner was CEO of Dacor, Inc., which designs, manufactures and markets a full range of ultra-premium kitchen appliances.
“I am thrilled to have
been given the exciting opportunity to lead Jacuzzi Brands into its next phase
of development and growth,” Huebner says. “We have an extraordinary team here
at the company, and I will build on the great accomplishments of Bob Rowan in
executing the company’s mission of growing Jacuzzi Brands. We will pursue
growth through innovation, investment, increased market awareness and expansion
of our presence in North America, Europe and other markets. Through a stronger
relationship with our dealer partners, we will be supporting our brands
with new marketing programs.”
Bob Rowan, former CEO of Jacuzzi Brands, will continue working with the company as an advisor. “I am extremely happy about the acquisition of Jacuzzi Brands by Investindustrial, and I am looking forward to supporting their efforts in an advisory capacity,” Rowan says. “Having worked alongside Chuck during the past few months, I am confident he will be a great leader for this new phase of Jacuzzi Brands. As for Investindustrial, the history, track record, international reach and vision of the new ownership speaks for itself. Their strong expertise in manufacturing and in growing premium brands, along with their vast international network in the design world, will provide the additional resources we need to accomplish our business plan.”