Kindred Aquired from Masco by Parent of Franke

by WOHe

Kindred Aquired from Masco by Parent of
Franke

Hatfield, PA – Franke Holding AG, the Swiss-based
parent company of Franke Consumer Products Inc., has acquired
Kindred Industries, becoming the second largest manufacturer of
sinks in North America, the company announced.

Kindred, based in Midland, Ontario, had been operating as an
independent division of the Ontario-based Emco, Ltd., under the
direction of the Masco Corp.

The Taylor, MI-based Masco – parent of such major manufacturers as
KraftMaid, Merillat Industries, Fieldstone and Delta Faucet – has
divested itself of several industry-related companies in recent
months, including Thermador, Auto-Graph and now Kindred.

“With this acquisition, Franke will gain a powerful foothold in the
Canadian market,” said officials of Franke Holding AG, located in
Aarburg, Switzerland.

Kindred, founded in 1946, is Canada’s largest producer of stainless
steel sinks, with a Canadian market share of 70%, according to
Franke. In 1997, the company posted sales of $45 million
(Canadian). Its product range also includes high-grade synthetic
sinks, as well as accessories. Kindred also exports to more than 25
countries.

“The Kindred acquisition is a milestone in strengthening the global
expansion of the Franke Group,” the company said, terming the move
“a strategic fit” for its Kitchen Systems Division, based in
Hatfield, PA. With Kindred, the Kitchen Systems Division of Franke
has three companies in North America and is now the continent’s
second largest sink manufacturer, the company noted.

The Franke Group consists of 46 companies in 26 countries. Aside
from producing sinks, fixtures and fittings, ovens, stove casings,
extractor hoods and related products, the company is also a
producer and service provider for restaurant chains, and
manufactures containers for the beverage, chemical and
pharmaceutical industries.

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