Jacuzzi to buy Mississauga, Ont. hot tub manufacturer Hydropool
The U.S. firm synonymous with whirlpool spas will acquire the Canadian company for an undisclosed price
CHINO HILLS, Calif.—Jacuzzi Brands LLC has snapped up Canadian competitor Hydropool Hot Tubs Inc.
The U.S. whirlpool spa and bath company said it will acquire the Mississauga, Ont.-based manufacturer June 29.
Originally founded as a commercial swimming pool firm, Hydropool has evolved into a major maker of hot tubs and swim spas with a network of more than 250 retailers and sales in 40 countries.
Along with the Canadian firm, Jacuzzi said it will buy Itasca, Ill.-based Bathwraps, a company that specialized in remodelling baths and showers.
It did not disclose the financial details of either agreement.
“We are extremely excited about the addition of both Hydropool and BathWraps to our existing spa and bath businesses,” Bob Rowan, Jacuzzi’s CEO, said in a statement. “Both companies are complementary to our core business and are led by exceptional management teams, which will remain in place as the businesses continue to operate independently.”
Despite the acquisition, Jacuzzi said Hydropool’s president David Jackson will stay on as head of the company.