Following approval by the EU Commission on Competition in Brussels shortly before Christmas, Masco Corp. has increased its previous 27% share in Hansgrohe AG to 64.35% by acquiring interests from various branches of the Grohe family. Hansgrohe shareholders voted to reorganize the shareholder structure in late December, with the active support of the company's board, based on its positive experience in a relationship with Masco spanning nearly 20 years. The purchase price was not disclosed.
The existing management board of Hansgrohe retains leadership of the Hansgrohe Group. Klaus Grohe, son of Hans Grohe, who founded the company in 1901, is chairman.