Jacuzzi Inc., a subsidiary of U.S. Industries, has acquired Gatsby Spas, Plant City, Fla., for $17 million cash. Gatsby, which currently has more than 1,600 outlets, including mass merchandisers, dealers and special order customers, reported 1998 revenues of $24 million. The acquisition complements Jacuzzi's two other spa companies - Jacuzzi Whirlpool Bath and Sundance - and extends the company's geographic coverage into the southeast market, said Roy A. Jacuzzi, chairman/president and CEO of Jacuzzi.

In other news, U.S. Industries has announced its recommended cash offer of about $130.7 million to purchase the shares of Leeds, England-based Spring Ram Corp. PLC, a manufacturer of bathroom and kitchen products. The transaction is expected to be completed in the third calendar quarter.

The acquisition will further extend Jacuzzi's international position in bathroom products, David H. Clarke, chairman/CEO of U.S. Industries, said in a statement.