DEERFIELD, IL - Fortune Brands Home & Security Inc., parent of MasterBrand Cabinets, has acquired WoodCrafters Home Products for $300 million.
WoodCrafters, founded in 1983 in Weslaco, TX, specializes in the manufacture of bathroom vanities and vanity sink tops. The company employs 2,000 people and operates manufacturing plants in southern Texas and northern Mexico. It has estimated annual sales of $230 million.
WoodCrafters will operate as a business unit of MasterBrand Cabinets. Its current management team, staffing, operations and locations will remain intact.
Woodcrafters brands include St. Paul Home Products sold in major home improvement stores in the United States, Mexico and Puerto Rico; Total Bath Solutions by WoodCrafters; Domani modular vanities sold only in Mexico; and Ready Kitchen, sold only in Mexico.
Fortune Brands' intention to acquire WoodCrafters was announced in early May.
"We've been a leader in kitchen and bath cabinets for years. WoodCrafters' strength in vanities and integrated sink basin tops immediately strengthens our offerings for the bathroom, with more products, more control over our supply chain and expanded low-cost North American manufacturing capacity," said Chris Klein, CEO of Fortune Brands Home & Security. "The cabinet market is in the early stages of recovery. Now is the perfect time to add to our leadership position as the leading cabinet manufacturer in North America with this strategic acquisition."
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