Announcement From Jonathan Clark
October 11, 2006
Dear Jacuzzi Hot Tubs Dealer,
You have likely heard this week’s financial news about Jacuzzi Hot Tubs. Apollo Management L.P., a leading private equity firm has made an offer to acquire our parent company, Jacuzzi Brands. Jacuzzi Brand’s board of directors has voted to accept this offer and recommend it to the shareholders. The terms of this offer represents solid evidence of the strength of the brand as part of the world’s largest manufacturer of acrylic spas.
If the deal is completed, we would become a private enterprise (not a publicly-traded company). Our business would be well positioned with the necessary resources to continue to develop and implement strategies to build upon our market leadership, and aggressively capitalize on a variety of global growth opportunities.
Over the last year, the Jacuzzi Hot Tub management has been vigilantly focused on global sourcing, product innovation, quality, ease of doing business, guerilla marketing and customer service. This work will continue in earnest, positioning us for significant competitive advantage.
I am excited about the opportunity to continue leading our organization into the future and about what we can achieve together. We look forward to the flexibility and exposure to increased resources that private ownership can provide. Many of you will probably be wondering what this means to your business. In essence there will be very few changes. Day-to-day operations will remain the same and you can look forward to receiving the same level of service that you have come to expect from everyone throughout our organization.
During periods of transition like this there may be questions or even rumors. While we may not have all the answers to your questions today, we are committed to communicating with you and will provide updates. I urge you to only take seriously information that originates from a knowledgeable company executive, such as your Jacuzzi Hot Tub representative.
I thank you for your continued loyalty as well as your spirit of cooperation and partnership over the years.
Warmest regards,
Jonathan Clark
President & CEO
Jacuzzi Hot Tubs
