August 4, 2015
Aug 05, 2015. /Lesprom Network/. Masonite International Corporation completed the sale of Premdor, S.A.S., Masonite’s door business in France, to an investment fund managed by Perceva S.A.S, a Paris-based independent investment firm, for nominal consideration, as the company said in the press release received by Lesprom Network.
Premdor S.A.S. had net sales of approximately $127 million for the year ended December 28, 2014 and over 680 employees.
“The sale of our business in France reflects another positive step in our strategic initiative of optimizing our portfolio and increasing shareholder value," said Fred Lynch, President and CEO. "I want to thank the Premdor associates in Francefor their dedication and hard work in the face of very difficult business conditions. They have been part of the Masonite family since the 1990’s, and we wish them the best as they continue their commitment to customer service under new ownership."
Masonite International Corporation is a leading global designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling; and the non-residential building construction markets.