Table of Contents
MasterBrand, Inc. announced it has completed its acquisition of Supreme Cabinetry Brands, Inc., a highly regarded cabinetry company, from GHK Capital Partners LP for $520 million in cash.
“The completion of this acquisition marks a major milestone, positioning MasterBrand to offer an unmatched breadth of offerings and enhanced service to even more customers and consumers,” said Dave Banyard, President and Chief Executive Officer of MasterBrand.
“As one team, we will build on our shared legacy of innovative product leadership, superior customer service and continuous improvement to drive significant value for all our stakeholders,” he said. “We warmly welcome the talented team at Supreme and look ahead with excitement to our continued journey of growth and innovation, as we advance our purpose of Building Great Experiences Together.”
The combined company will reach more customers, through its highly complementary dealer networks, with greater efficiency and effectiveness. Through this transaction, MasterBrand will broaden its portfolio of premium cabinetry in the resilient and attractive kitchen and bath categories, further diversify its channel distribution and add to its strategically located facility footprint.
The acquisition is expected to deliver annual run-rate cost synergies of $28 million by the end of year three. These will come from areas including procurement, facility optimization, and overhead expenses. In addition to the cost synergies, MasterBrand anticipates commercial synergies across the companies’ complementary channels and product lines.
