page_title: Grohe
section_title: 2010-present: recent history
hierarchical_section_title: Grohe / History / 2010-present: recent history
caption_attribution_description: English: Veris kitchen faucet from German manufacturer GROHE
context_page_description: Grohe is a German sanitary fittings manufacturer with its registered office in Hemer and headquarters in Düsseldorf. Since 2014, Grohe has been part of the Japanese Lixil Group. The company generated consolidated sales revenues of EUR 1.35 billion in 2017. Grohe employs about 6,000 people worldwide.
context_section_description: Grohe is currently Europe’s biggest manufacturer of sanitary fittings and has eight percent of the worldwide market. The German market makes up roughly 15 percent of overall sales. Currently, Grohe AG is owned almost 100% by Grohe Holding GmbH (there are still some minority shareholders from the period in which Grohe AG was listed on the stock market). Grohe Holding GmbH is owned by investors.
  In June 2010, the company saw a ruling against the European sanitary fittings industry by the European Commission. The Commission found that European manufacturers had operated a cartel between 1992 and 2002 and imposed a collective fine of 622 million euros. Grohe's share of the fine amounted to 54.8 million euros. The Grohe board of directors, which took up business after the period under investigation, introduced awareness programmes about competition law and operates a zero-tolerance policy towards price-fixing.
  In early 2011, Grohe acquired a majority stake in the leading Chinese sanitary fittings producer Joyou, making a successful public takeover bid. The aim of this takeover is above all to strengthen Grohe’s sales infrastructure on the fast-growing Asian market. Grohe currently holds a 72 percent stake in Joyou.
  In 2012, Grohe AG's revenues increased by 21 percent to 1,405 million euros; operating profits improved by 18 percent to reach 273 million euros, representing a return on revenue of 19.4 percent. 
  In May 2013, David Haines, chairman of Grohe, confirmed that, although the company is examining all options for ending investor involvement, no concrete plans had yet been made. Capital market experts estimate that Grohe would currently be valued at up to four billion euros if it were to return to the stock market.
  In September 2013, it was announced that Grohe had received the largest ever investment from a Japanese company in Germany. The firm is now almost entirely owned by the Japanese building materials company Lixil Group and the Development Bank of Japan, after a €3 billion deal for 87.5 percent of the firm.
  Grohe was taken over by Lixil and the Development Bank of Japan in January 2014.
  In February 2017, the company's revenues accounted 965 million euros during the first nine months of the fiscal year. Grohe claimed their solid growth is based on their international marketshares with Grohe products available in 150 countries as well as increasing sales in Germany.
  In May 2017, Grohe announced the takeover of the former joint venture Grome.
  In September 2017, Grohe was listed in the Change the World ranking of the business magazine Fortune as one of 50 international companies whose strategy have a positive impact on society.
caption: Grohe Kitchen Faucet Veris 1
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