Pursuant to the offer, Masonite has the right to sell Premdor S.A.S. to Perceva on the terms included in the offer. Masonite has agreed with Perceva to an exclusivity period related to the potential sale.
The sale is subject to customary conditions including receipt of regulatory approvals and consultation with French employee representatives.
Premdor S.A.S. and its subsidiaries (the “French Group”) manufacture and distribute doors to the commercial and residential markets predominantly in France.
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.