Jacuzzi To Sell Eljer
Jacuzzi Brands announced it will sell its Eljer Plumbingware business to an affiliate of Sun Capital Partners Inc. Sun recently acquired Crane Plumbing. The transaction is expected to close by July 2.
Terms were not disclosed, except that the Sun affiliate will assume substantially all current assets and liabilities of Eljer, including long-term medical retiree liabilities, and will also take the Ford City, Pa., and Tupelo, Miss., operations.
For the first six months of fiscal year 2005, which ended April 2, Eljer recorded an operating loss of $2.9 million on sales of $69.2 million.
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