Grohe Group gets 72% of Joyou

The founders of Joyou, the Cai family, and Grohe have agreed to strengthen their successful partnership by bringing the two companies together at Grohe group level. The Cai family will swap its shares in Joyou into the Grohe Group so that it will become the largest private shareholder in Grohe Group, with Jianshe Cai, the founder, joining the board of Grohe Group.

"We have been the strategic anchor shareholder in Joyou. We are now stepping up this cooperation under our dual brand strategy so that we can fully exploit the global opportunities for both brands. Our customers will benefit from this agreement, as the choice offered by the group has increased considerably with these products. All group products are manufactured with superior quality German engineering," said David J Haines, CEO of Grohe Group.