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Fortune Brands Home & Security Inc Completes Acquisition of WoodCrafters Home Products

Thursday, 20 Jun 2013 04:01pm EDT 

Fortune Brands Home & Security Inc announced that it has completed the acquisition of WoodCrafters Home Products, a leading, privately-owned manufacturer of bathroom vanities and vanity sink tops. FBHS announced an agreement to acquire WoodCrafters on May 2, 2013. The Company completed the acquisition for a purchase price of $300 million which should be equivalent to 7.5 times annual EBITDA. Over the next couple of years, potential synergies resulting from the acquisition could reduce the purchase multiple to closer to 6 times EBITDA. WoodCrafters, which will become part of the Company`s Kitchen & Bath Cabinetry segment, is headquartered in Weslaco, Texas and has estimated annual sales of $230 million. WoodCrafters operates manufacturing facilities in southern Texas and northern Mexico. The Company plans for WoodCrafters to operate as a business unit of MasterBrand Cabinets, Inc., the Company`s kitchen & bath cabinetry unit, with its current management team, staffing, operations and locations. WoodCrafters has approximately 2,000 associates. 

Company Quote

-0.46 -1.01%
19 Dec 2014