Masco Corporation has entered into a definitive agreement to sell Masco Cabinetry to ACProducts, Inc., a manufacturer of cabinetry products owned by American Industrial Partners, for $1 billion, consisting of $850 million in cash at closing and preferred stock issued by a holding company of the buyer with a liquidation preference of $150 million.
The agreement contains customary representations, warranties, and covenants. The closing of the sale is expected to occur during the 1Q 2020, subject to customary closing conditions and regulatory review.
Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products.
