FRUITLAND, Idaho – The deal is done, finally. Woodgrain Inc., a leading millwork and building products company has closed on its acquisition of a Towanda, Pennsylvania, plant from JELD-WEN Holding, Inc.
After years of negotiations,by multiple companies, Woodgrain now assumes full ownership of the Towanda plant.
“We are excited to welcome the skilled Towanda associates into the Woodgrain family and eager to work with Towanda’s valued customer base in continuing to service and grow their business,” said Kelly Dame, CEO and President of Woodgrain.
The Towanda plant manufactures molded interior door skins, as well as wood composite MiraTEC exterior trim and Extira exterior grade panels.
Wells Fargo served as the exclusive financial advisor to Woodgrain.
In a statement to Woodworking Network from Steves & Sons, the originator of the antitrust lawsuit, regarding the acquisition, the company said: “The Steves and Dame families share the same core values, rooted in integrity, respect, and a steadfast commitment to upholding the principles passed down through generations. We are grateful to witness the successful conclusion of a 9-year legal journey, paving the way for renewed competition and choice within this industry. We are confident that Woodgrain's vision and resources will create a thriving and high-quality molded door skin source with the Towanda facility, benefiting independent door manufacturers across the country.”
In December 2024, Woodgrain announced the deal, which concluded a court order entered against Jeld-Wen that required the company to divest the facility. In 2018, Jeld-Wen was ordered to divest the Towanda doorskin facility following an antitrust lawsuit brought in 2016 by Steves & Sons. Jeld-Wen acquired the interior moulded doorskin and door facility as part of its 2012 acquisition of CMI (CraftMaster Inc.).
The Dec. 14, 2018, final judgement by Judge Robert Payne, U.S. District Court for the Eastern District of Virginia, held that Jeld-Wen violated federal antitrust laws, specifically the Clayton Act, by reducing competition through the acquisition. The ruling required Jeld-Wen to divest the Towanda facility to a third party, and gives both companies, Jeld-Wen and Steves, the option to purchase doorskins from the to-be-determined company.
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