acpi Buys Masco

acpi buys Masco.
   
acpi buys Masco Cabinetry for $1.0 billion.
   
Masco Cabinetry’s 70-year history in kitchens and bathrooms makes it a trusted source for builders, dealers, home centers, and remodelers.  Its brands include KraftMaid, Merillat, Quality Cabinets, and Cardell.  Offering competitive cabinetry in key customer channels, this deal further expands the products and abilities of acpi as a whole.  It creates the most complete and robust domestic cabinetry portfolio in the industry.  acpi brands include Echelon, Advanta, Serenade, Smart, Cabinets2000, and Master Woodcraft.
   
Larry Denbrock of acpi said: ‘We continue to be laser-focused in our commitment to growth in this dynamic cabinetry industry. We understand the market needs and are proud to offer high-quality domestic cabinetry to our customers in all channels and at all customization levels and price points.  Masco Cabinetry is the logical choice to help us further execute acpi’s brand promise of high-quality cabinetry at a great value, and peace of mind for our customers.  We are excited about the opportunities that will come to our customers and the market as a result of this acquisition.  Our business will be 100 percent focused on building best-in-class cabinets and providing excellent service to a diverse set of customers and channels.  We are proud to combine these two leading American manufacturing businesses.’
   
Tom Samanic of acpi said: ‘We proudly welcome Masco Cabinetry’s associates to the acpi family.  This is a momentous day for acpi as we continue to focus on offering the most diverse and balanced cabinet offering in North America.  Each of our brands is targeted to serve a specific channel segment, and we look forward to expanding on our brands’ strong value propositions as a result of this acquisition.’
   
Joe Gross of Masco Cabinetry said: ‘We could not have asked for a better partner than acpi.  Together, our complementary brands are uniquely positioned to meet the diverse product and service needs of all channels of the residential cabinet industry.  Our 4,000 associates are excited to join the acpi family and continue to provide the best value and solutions to all our customers.  Post-close, we are excited to build a bright future working with our customers, suppliers, employees, and valued partners.’
   
Barclays and Goldman Sachs served as financial advisors to acpi.  Ropes & Gray and Baker Botts served as legal advisors.

Comments

  1. MartinFebruary 14, 2020 at 10:24 AM

    This is great news! Am I finally going to get a new sales Rep?

    ReplyDelete

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