Lixil Corp. is buying American Standard Brands from an affiliate of private equity firm Sun Capital Partners for $542 million.
Lixil is purchasing American Standard’s parent company, ASD Americas Holding Corp. American Standard, headquartered in Piscataway, N.J., manufactures kitchen and bath products.
Tokyo-based Lixil is a building products company that makes kitchen and bathroom products, as well as windows, entrance doors, shutters and furniture. Lixil expects the deal to provide it with greater opportunities in North America.
Sun Capital, headquartered in Boca Raton, Fla., has also invested in American Golf, Emerald Performance Markets and Boston Market. The firm recently purchased burger chain Johnny Rockets, and before that, decided to combine five packaging companies into Exopack Holdings Sarl.