Japanese bathroom giant Lixil Group has agreed to buy Germany's Grohe in a $4.1 billion deal, its second purchase in recent months and one that would turn it into the sector's biggest global player.
The Dusseldorf-based maker of bathroom appliances confirmed Thursday that it was being taken over by Lixil in a buyout which also marks Japan Inc's biggest-ever investment in Germany.The deal comes three months after Lixil snapped up ASD Americas Holding Corp, the parent company of the American Standard bathroom brand, for 53.1 billion yen ($538 million).
It is the latest in a string of overseas takeovers by Japanese firms scrambling to counter a shrinking home market.
Other recent cross-border deals by Japanese firms include mobile carrier SoftBank's $21.6 billion takeover of US-based Sprint-Nextel and Mitsubishi UFJ, the country's biggest lender, buying Thailand's Bank of Ayudhya for $5.6 billion.
Japanese drinks giant Suntory said earlier this month it would buy the top-selling Lucozade and Ribena brands from British drugs firm GlaxoSmithKline (GSK) for $2.1 billion.
The moves are aimed at expanding beyond Japan's borders where firms are wrestling with unfavourable demographics as the population rapidly ages while the birth rate falls.
It is the latest in a string of overseas takeovers by Japanese firms scrambling to counter a shrinking home market.
Other recent cross-border deals by Japanese firms include mobile carrier SoftBank's $21.6 billion takeover of US-based Sprint-Nextel and Mitsubishi UFJ, the country's biggest lender, buying Thailand's Bank of Ayudhya for $5.6 billion.
Japanese drinks giant Suntory said earlier this month it would buy the top-selling Lucozade and Ribena brands from British drugs firm GlaxoSmithKline (GSK) for $2.1 billion.
The moves are aimed at expanding beyond Japan's borders where firms are wrestling with unfavourable demographics as the population rapidly ages while the birth rate falls.
