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Australian plumbing products maker Reliance Worldwide Corp Ltd. is buying U.K.-based John Guest Holdings Ltd.
The purchase of the U.K.-headquartered plastic “push-to-connect” fittings maker would help Reliance expand its European footprint, the firm said in a statement.
Reliance chief executive officer Heath Sharp said John Guest's strength in the UK and continental Europe will combine with Reliance's strong positions in North America and Asia Pacific regions.
"We believe that John Guest products can be successfully leveraged through our well established North American and Asia Pacific channel network," he said.
He said they can also use John Guest's distribution channels in the UK and Europe to sell Reliance products and some products from the group's recent acquisition of Holdrite.
More details here.