Worldwide has announced the acquisition of ThermoSpas . The
terms of the deal were not disclosed.
“I am personally thrilled to enter this new chapter ... under
the ownership of Jacuzzi Group Worldwide,” said Andy Tournas,
ThermoSpas’ president. “Their expertise and resources
will enable ThermoSpas to provide outstanding service to our
Tournas will continue his leadership role under the new ownership.
The spa manufacturer also will operate independently of Jacuzzi and
and will maintain production of its product line.
Founded in 1983, Wallingford, Conn.-based ThermoSpas initially had
a dealer base, but turned to consumer-direct sales in 1995. In
February, the firm filed for Chapter 11 bankruptcy
However, its recent financial challenges didn’t deter Jacuzzi
officials from the purchase.
“ThermoSpas’ ability to generate interest in the hot
tub category combined with a cutting-edge system of managing leads
will prove to be a significant benefit to our network of Jacuzzi
and Sundance dealers and our corporation,” said Bob Rowan,
president of Jacuzzi North America, in a press release.
“Additionally, ThermoSpas’ reputation for innovative,
great quality products makes them a great fit with our current
Founded in 1925, Chino Hills, Calif.-based Jacuzzi began as a pump
manufacturer and today produces a wide product range including hot
tubs, bathtubs, walk in bathtubs, showers and sinks.