With the completion of the acquisition, Owens Corning’s annual revenue grows to $12.5 billion, with adjusted EBITDA of $2.9 billion on a synergized basis and reduced ongoing capital intensity.

Furniture

Owens Corning completes acquisition of Masonite International

Owens Corning completes acquisition of Masonite International

Image: Masonite International Corporation

Owens Corning has completed its acquisition of Masonite International Corporation, a leading global provider of interior and exterior doors and door systems. All outstanding Masonite common shares have been acquired by Owens Corning for $133.00 per share, with an implied transaction value of approximately $3.9 billion.

Founded in 1925, Masonite is a leading global provider of interior and exterior doors and door systems serving both repair and remodel and new construction demand. Masonite operates 64 manufacturing and distribution facilities, primarily in North America, and has over 10,000 employees globally.

With the completion of the acquisition, Owens Corning’s annual revenue grows to $12.5 billion, with adjusted EBITDA of $2.9 billion on a synergized basis and reduced ongoing capital intensity. Owens Corning expects to achieve approximately $125 million of run-rate cost synergies. The acquisition drives meaningful shareholder value creation with ROIC exceeding Owens Corning’s cost of capital by the end of Year 3 post-close.

Masonite shareholders voted to approve the transaction at the Special Meeting of Shareholders. With the completion of the acquisition, Masonite’s common shares will cease trading on the New York Stock Exchange and will be delisted.

Owens Corning is a global building and construction materials leader.