The deal will add major brands including KraftMaid and Merillat to ACPI’s extensive portfolio.
Cabinet manufacturer ACProducts Inc. has entered an agreement to acquire Masco Cabinetry, a division of Masco Corp.
With over 70 years of manufacturing experience and such well-known brands as KraftMaid®, Merillat®, Quality CabinetsTM and Cardell®, Masco Cabinetry has supplied cabinetry for builders, dealers and home centers alike, 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 a quite robust domestic cabinetry portfolio.
“We continue to be laser-focused in our commitment to growth in this dynamic cabinetry industry,” stated Larry Denbrock, president and CEO of 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 business promise: high-quality cabinetry at a great value, and peace of mind for our customers.”
Tom Samanic, chief commercial officer 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 most effectively serve their respective channel segments and we look forward to augmenting and expanding upon our brands’ strong value propositions as a result of this transformative acquisition.”
Among ACPI’s 14 brands are Yorktowne, Master Craft, Medallion, Advanta Cabinets, Echelon, Cabinets 2000, Master Wood Craft Cabinetry and Smart Cabinetry.
Joe Gross, president of Masco Cabinetry, added, “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 of our customers.”
Headquartered in The Colony, Texas, ACPI is the fourth-largest, and largest independently owned, manufacturer and distributor of cabinets in the U.S. It was acquired by American Industrial Partners in 2012, and since then, has grown from a single brand and plant to 14 brands and 11 manufacturing operations across Pennsylvania, Indiana, Texas, Minnesota, Colorado, Oregon and California.
Based in Ann Arbor, Mich., Masco manufactures and sells semi-custom, stock and value-priced assembled cabinetry for kitchen, bath, storage, home office and home entertainment applications. The company’s KraftMaid® products are sold primarily to dealers and home-center retailers, its Cardell® products are sold exclusively to Menards, and its Merillat® and Quality Cabinets™ products are sold mainly to dealers and homebuilders for home improvement as well as new construction.
The transaction is subject to standard closing conditions and is expected to be completed by the end of the first quarter of 2020.
ACPI’s financial advisors are Barclays and Goldman Sachs & Co. and its legal advisors are Ropes & Gray LLP and Baker Botts LLP.
