Delta Faucet Company Announces Signing of Definitive Agreement to Acquire Kraus

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Dec 22, 2020, 08:00 ET

INDIANAPOLIS, Dec. 22, 2020 /PRNewswire/ -- Delta Faucet Company, a division of Masco Corporation (NYSE: MAS), and one of the leading U.S. manufacturers of residential and commercial faucets, announced today the signing of a definitive agreement for Masco Corporation to acquire the assets of Kraus, an online plumbing fixture company focused on delivering modern, high-quality sinks, faucets, and related products.

The transaction is expected to close no later than the first quarter of 2021, subject to customary closing conditions and regulatory review. Kraus will operate as an affiliate of Delta Faucet Company.

"We are excited to add the Kraus team and their capabilities to the organization," said Ken Roberts, President of Delta Faucet Company. "Kraus' complementary products, primarily kitchen and lavatory sinks, as well as accessories, and its robust online presence, will strengthen our market-leading offerings, and drive further growth."

Headquartered in Port Washington, N.Y., Kraus was founded in 2007 and employs approximately 100 people worldwide. Pending the closing of this transaction, the Kraus leadership team will report to Jill Ehnes, Vice President, eCommerce, Delta Faucet Company.

"We see in Kraus the same high-performing culture we embrace at Delta Faucet Company," said Ehnes. "We also share a common desire to create great experiences for the consumer. We're excited to welcome the team to our organization."

About Delta Faucet Company
Headquartered in Indianapolis, Ind., Delta Faucet Company is a leader in faucets, bath and shower fixtures, and related accessories. The company manufactures Delta®, Brizo®, and Peerless® branded products. Combining design and innovation, Delta Faucet Company's extensive product line suits both residential and commercial buildings.

Delta Faucet Company exists to transform experiences with water. From inspiring kitchen and bath environments, to smart and simple water usage, Delta Faucet Company innovates living and work spaces. We do this while addressing today's environmental concerns, reducing our ecological footprint through improved manufacturing processes and creating products that provide innovative water delivery solutions.

Delta Faucet Company is a place where passion flows from employees and comes to life in products. For more information about Delta Faucet Company, visit deltafaucetcompany.com.

Safe Harbor Statement
Delta Faucet Company is a subsidiary of Masco Corporation. As such, this press release contains statements that reflect views about Masco Corporation's future performance and constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "believe," "anticipate," "appear," "may," "will," "should," "intend," "plan," "estimate," "expect," "assume," "seek," "forecast," and similar references to future periods. These views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, Masco Corporation's actual results may differ materially from the results discussed in these forward-looking statements. We caution you against relying on any of these forward-looking statements.

Risks and uncertainties include, among other things, the expected closing of the Kraus transaction and the expected benefits and synergies of the acquisition, including the expected impact on future financial and operating results and post-acquisition plans and intentions. Our future performance may also be affected by the levels of residential repair and remodel activity and new home construction, our ability to maintain our strong brands and reputation and to develop innovative products, our ability to maintain our competitive position in our industries, our reliance on key customers, the length and severity of the ongoing COVID-19 pandemic, including its impact on domestic and international economic activity, consumer demand for our products, our production capabilities, our employees and our supply chain, the cost and availability of materials and the imposition of tariffs, our dependence on third-party suppliers, risks associated with our international operations and global strategies, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have and may acquire, our ability to attract, develop and retain talented personnel, risks associated with our reliance on information systems and technology, and our ability to achieve the anticipated benefits from our investments in new technology. These and other factors are discussed in detail in Item 1A, "Risk Factors" in Masco Corporation's most recent Annual Report on Form 10-K, as well as in Masco Corporation's Quarterly Reports on Form 10-Q and in other filings it makes with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise.

SOURCE Delta Faucet Company