ACProducts Inc. (acpi) announced that it is has entered into an agreement to acquire Masco Cabinetry, a division of Masco Corporation. With more than 70 years of manufacturing experience and well-known brands such as KraftMaid, Merillat, Quality Cabinets and Cardell, Masco Cabinetry has long been a trusted source of cabinetry for builders, dealers, and home centers alike.
Masco Cabinetry’s rich history in the kitchen and bath cabinetry field makes it an ideal addition to the Acpi family. Offering competitive cabinetry in key customer channels, the acquisition of Masco Cabinetry further expands the product offering and manufacturing capabilities of Acpi as a whole, creating the most robust domestic cabinetry portfolio in the industry.
“We continue to be laser focused in our commitment to growth in this dynamic cabinetry industry,” said Larry Denbrock, president and CEO, Acpi. “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: 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.”
The transaction, which is subject to standard closing conditions, is expected to be completed by the end of the first quarter of 2020.
“We could not have asked for a better partner than Acpi,” said Joe Gross, president of Masco Cabinetry. “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 extremely excited to join the Acpi family and continue to provide the best value and solutions to all of our customers.”
Acpi’s financial advisors are Barclays and Goldman Sachs & Co., and its legal advisors are Ropes & Gray LLP and Baker Botts LLP.
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