BusinessLuxury backer Investindustrial takes a dip into JacuzziHot tub: Jacuzzi has been sold to Italy's Investindustrial for an undisclosed sum Michael Bow14 January 2019Aston Martin-backer Investindustrial added to its luxury brands today after making a dive for hot tub-maker Jacuzzi.The private equity firm will buy the group from Apollo Global, Ares Management and Clearlake Capital. No price was disclosed but Jacuzzi sales last year were $500 million.The business was founded in 1956 by seven Italian brothers who moved to America and felt hydroptherapy in the home could help arthritis sufferers.Jacuzzi’s tubs can cost anywhere from $5,000 to $20,000.Italy-based Investindustrial last year struck a deal with private equity firm Carlyle to co-invest in luxury brands.The company also owns B&B Italia, the Italian high-end design furniture brand, Danish lighting brand Louis Poulsen and casual dining chain Dispensa Emilia.
