Bath products manufacturer Jacuzzi Brands, Inc. announced that it has completed the previously announced sale of Rexair, Inc. to Rhone Capital LLC.
Rexair manufactures the Rainbow(R) e2(TM) vacuum cleaner system. The vacuum is marketed by a network of independent distributors in more than 70 countries that sell directly to consumers through in-home demonstrations. The division generated sales of approximately U.S. $104.8 million and operating income of approximately $27.3 million in the fiscal year ended October 2, 2004.
The agreement was initially announced in May 2005. Jacuzzi retains a 30-percent interest in Rexair.
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