Jacuzzi Inc., a subsidiary of U.S. Industries, has acquired Gatsby Spas, Plant City, Fla., for $17 million cash. Gatsby, which currently has more than 1,600 outlets, including mass merchandisers, dealers and special order customers, reported 1998 revenues of $24 million. The acquisition complements Jacuzzi's two other spa companies - Jacuzzi Whirlpool Bath and Sundance - and extends the company's geographic coverage into the southeast market, said Roy A. Jacuzzi, chairman/president and CEO of Jacuzzi.
In other news, U.S. Industries has announced its recommended cash offer of about $130.7 million to purchase the shares of Leeds, England-based Spring Ram Corp. PLC, a manufacturer of bathroom and kitchen products. The transaction is expected to be completed in the third calendar quarter.