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[March 2001]
Sanitec Firms Up in UK
HSBC Private Equity has confirmed that Sanitec Corporation of Finland has acquired from them Caradon Bathrooms - which includes the Twyfords and Doulton sanitaryware brands - for £82 million. HSBC acquired the business last year as part of its £496 million buy-out of the Caradon PLC (now Novar) plumbing division.
Following the acquisition, Sanitec will be the clear No 2 in the UK bathroom ceramics market, with a market share of over 20%. Caradon Bathrooms employs 950 people and is based in Alsager, Cheshire. The existing management team is expected to continue running the business.
ENDS