VISTA (California) July 31, 2023 –Watkins Wellness announced today that it has expanded its range of products for personal well-being and entered the sauna market. This is due to the pending purchase of Sauna360 Group Oy by Watkins Wellness’ parent company Masco Corporation. Sauna360, a global leader in sauna solutions, offers a wide range of products, including traditional, wood-burning, infrared and steam saunas. It also has steam rooms, generators and steam showers. These products are sold in North America, Europe, and the rest of world under the Tylo Helo Kastor Finnleo and Amerec brand names. The transaction should close by the third quarter of this year, subject to regulatory approval.
Vijaikrishna Teenarsipur (VJ), President of Watkins Wellness, said: “We are delighted to welcome Sauna360 into our organization and expand our portfolio with industry-leading products that promote wellness and help our customers live well! “Sauna360 is a valuable resource for our company. They bring a wealth and expertise of knowledge in the industry. We are excited to leverage the synergies that exist between our businesses to better serve our dealers, consumers, and ultimately the growing wellness industry.
“I’m very happy that Sauna360 is now part of Watkins Wellness. Sauna360 has seen a significant growth in the past few years. Becoming part of Watkins Wellness is a great way to further enhance our ambitions and capabilities as a leading sauna company. This strategic partnership is a perfect fit because of the dealer distribution strategy, similar focus on wellness, and similar company culture,” Pekka Lettijeff said, President & Chief Executive Officer of Sauna360 Group.
Sauna360 was founded in 2008 through a merger of two leading sauna companies: Helo & Tylo. Helo dates back to 1919, and Tylo to 1949. The company has its headquarters in Finland. It employs approximately 180 people in Finland, Sweden and the United States.
Watkins Wellness
Watkins Wellness was founded in Vista, California in 1977. It is committed to helping consumers feel good and to live well. With its growing range of products, the company offers multiple paths to wellness. Hot Spring(r), Caldera(r), Freeflow(r), Fantasy(r), and Endless Pools Fitness Systems are among our portfolio of brands. They are sold primarily through a network of specialty dealers in more than 100 countries. Watkins Wellness, a fully owned subsidiary of Masco Corporation is located in 70+ countries.
About Masco Corporation
Masco Corporation, headquartered in Livonia in Michigan, is a leader in home improvement products and building materials. Our portfolio includes BEHR(r), Delta(r), and Hansgrohe (r) faucets and bath and shower fixtures, as well as Hot Spring(r). Our powerful brands are leveraged across product categories and sales channels to create value for customers and shareholders. Visit www.masco.com for more information.
Safe Harbor Statement
Watkins Wellness, a subsidiary company of Masco Corporation. This press release contains “forward-looking” statements under the Private Securities Litigation Reform Act 1995. These forward-looking statements are identified by terms such as “outlook,””anticipate,””appear,””, “may,”, “will,”,”should,””, “intend,””, “plan,””, “estimate,””, “assume,””, “seek,””, “forecast,” etc. This is because these views on future performance are subject to risks and uncertainties which are hard to predict. Therefore, Masco Corporation’s actual results could differ significantly from those discussed in the forward-looking statements. We warn you not to rely on these forward-looking statement.
The expected completion of the Sauna360 deal and its expected benefits and synergies, as well as the impact of this acquisition on future financial and operational results, and plans and intentions following the acquisition are all risks and uncertainties. The future performance of Masco Corporation may be impacted by a number of factors, including the level of residential remodel and repair activity and, to a lesser degree, new home construction. Other factors include the ability of Masco Corporation to maintain a strong public reputation and develop innovative products. Item 1A discusses these and other factors in greater detail. The “Risk factors” section of Masco Corporation’s latest Annual Report on Form 10K as well as Masco Corporation’s Quarterly Reports and Form 10Q and other filings with the Securities and Exchange Commission are all listed under the heading “Risk factors”. This press release contains forward-looking statements that are only valid as of its date. It is impossible to predict every factor or event that may cause Masco Corporation to have different results. Masco Corporation is not required to publicly update any forward-looking statement as a result new information or future events.
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