In a shakeup in the building materials manufacturing landscape, Owens Corning is set to make a landmark acquisition of Masonite.
Building and construction manufacturer Owens Corning will acquire all outstanding shares of interior and exterior doors and door systems provider Masonite International Corp. The implied transaction value is about $3.9 billion, according to a Feb. 9 news release.
The addition of Masonite’s doors business — which includes 64 manufacturing and distribution facilities — complements and strengthens Owens Corning’s existing residential interior and exterior building materials product offering.
Founded in 1925, Masonite designs, manufactures, and markets doors and door systems, with a vertically integrated manufacturing model serving both repair and remodel and new construction demand.
“The combination of our commercial, operational and innovation capabilities allows us to accelerate our long-term enterprise growth strategy with a clear line of sight to meaningful synergies and increased cash flow generation,” said Board Chair and CEO of Owens Corning Brian Chambers.