Masonite International Corp. is to acquire the residential entry-door business of Stanley Works for USD 160 million. The acquisition is expected to add to Masonite“s earnings per share immediately.
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Masonite International Corp. is to acquire the residential entry-door business of Stanley Works for USD 160 million. The acquisition is expected to add to Masonite“s earnings per share immediately. Closing of the transaction is subject to certain governmental approvals, third-party consents and customary conditions, and is anticipated to occur in the first quarter of 2004. Stanley“s entry-door business makes and pre-hangs steel and fibreglass residential doors and entry systems for sale primarily to the retail home improvement market in the United States. Sales for the entry-door business are approximately USD 200 million. Building products company Masonite has corporate headquarters in Mississauga, Ontario and international administrative offices in Tampa, Florida.