Delta Faucet acquiring Kraus
Delta Faucet Company, a division of Masco Corporation and one of the leading U.S. manufacturers of residential and commercial faucets, has signed an agreement for Masco to acquire the assets of Kraus.
Based in Port Washington, N.Y. Kraus is, an online plumbing fixture company focused on delivering modern, high-quality sinks, faucets, and related products.
The transaction is expected to close no later than the first quarter of 2021, subject to customary closing conditions and regulatory review. Kraus will operate as an affiliate of Delta Faucet Company.
The financial terms of the acquisition were not disclosed.
"We are excited to add the Kraus team and their capabilities to the organization," said Ken Roberts, president of Delta Faucet Company. "Kraus' complementary products, primarily kitchen and lavatory sinks, as well as accessories, and its robust online presence, will strengthen our market-leading offerings, and drive further growth."
Kraus was founded in 2007 and employs approximately 100 people worldwide. Pending the closing of this transaction, the Kraus leadership team will report to Jill Ehnes, vice president of e-commerce, Delta Faucet Company.
"We see in Kraus the same high-performing culture we embrace at Delta Faucet Company," said Ehnes. "We also share a common desire to create great experiences for the consumer. We're excited to welcome the team to our organization."
Headquartered in Indianapolis, Ind., Delta Faucet manufactures Delta, Brizo, and Peerless branded products.