The two Spanish bathroom manufacturers merged into one. The designer brand Sanycces acquired 50% of the shares of AUREA BATH SL, a manufacturer of artificial stone shower tray faucets, and the founder left.
Áurea Bath founder Domingo Maeso sold his remaining 50% of his shares to the Spanish family-owned company Sanycces. In June, Ricardo Murray, a pioneer in the Spanish shower tray industry, already held another 50% of the company’s shares.
Áurea Bath’s revenue in 2021 is 5.5 million euros, a year-on-year increase of 47.7%; it is expected to reach 7 million euros in 2022. The company is export-oriented, 90% of its products are exported, and the main markets are Italy and France. Sanycces expects to achieve operating income of about 25 million euros in 2022.
In 2021, Engineered Stone Group, an artificial stone bathroom manufacturer under Cranemere Group, will acquire Fiora and Nuovvo, the two largest manufacturers of artificial stone bathroom products in Europe, to form a strong artificial stone category matrix.
BATHVO also launched a slate heated towel rails, which also has a strong competitive advantage in the market.