LIVONIA, Mich. - ACPI cabinetry's parent American Industrial Partners is among the bidders for Masco Corp.'s cabinet business, which includes the KraftMaid, Merillat, QualityCabinets, and Cardell Cabinetry brands, according to news sources. Other bidders making it to the second round of a possible $1.2 billion sale include Bain Capital, Clearlake Capital Group LP and W.W. Grainger.
In addition to acpi, whose four divisions include the wholly-owned subsidiary Master WoodCraft Cabinetry, Smart Cabinetry, Cabinets 2000, and acpi, which markets its products under the Advanta Cabinets, Echelon Cabinetry and Serenade Cabinetry brands, AIP's portfolio includes flooring manufacturer AHFP, which markets under the brand names of Armstrong, Bruce, Capella, Homerwood, Robbins, and T. Morton.
Masco Corp. confirmed in June its intent to sell its cabinetry and window business units. In July, Masco reported a 6 percent decrease in net sales for its Cabinetry products in the second quarter, due to lower volume, partially offset by pricing. For the six months (ending June 30) cabinetry sales were at $488 million, up 1 percent compared to the same period a year ago.
For the year, 2018 net sales of its Cabinetry Products segment were reported at $950 million, with an operating profit of $86 million.
Masco ranked #3 among top North American cabinetry producers, and #15 overall, among the FDMC 300 list of top North American wood products producers. Headquartered in Ann Arbor, Michigan, Masco Cabinetry manufactures and sells semi-custom, stock and value-priced assembled cabinetry for kitchen, bath, storage, home office and home entertainment applications in a range of styles and price points. Masco Cabinetry’s KraftMaid and Cardell products are sold primarily to dealers and home center retailers, and its Merillat and Quality Cabinets products are sold primarily to dealers and homebuilders for both home improvement and new home construction.
Masco Corp. is headquartered in Livonia, Michigan, and is a global leader in the design, manufacture and distribution of branded home improvement and building products. In addition to the cabinetry product brands, its portfolio includes: Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; Milgard windows and doors; Kichler decorative and outdoor lighting; and HotSpring spas.
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