TAMPA, FL – Masonite International Corporation announced that it has completed the acquisition of all of the capital stock of Algoma Hardwoods, Inc. ("Algoma"). Algoma is headquartered in Algoma, WI and manufactures architecturally specified doors at its facilities in Algoma WI and Jefferson City, TN. Algoma was founded in 1892 in Algoma, WI, and has been manufacturing and selling high-quality door products since 1913. Algoma employs approximately 350 people and 2011 revenue exceeded $60 million. The terms of the transaction have not been disclosed.
"The combination of Algoma with our existing businesses and our vertically integrated supply chain of door components provides our customers with a wider range of high quality, cost effective door products for commercial and architecturally specified applications," stated Chris Virostek, Masonite’s Senior Vice President of Corporate Development. "Algoma complements Masonite’s existing Marshfield, Mohawk and Baillargeon branded commercial and architectural door businesses and provides an important additional platform of strategic growth for our company."
"We are excited to join the Masonite team," said Henk Wolst, Algoma’s Executive VP of Sales and Marketing. "Both Masonite and Algoma have solid reputations of delivering great customer service and innovative, high quality products. We look forward to partnering with Masonite to provide exciting new opportunities for our customers, employees and suppliers."
This press release is available on the Company's website at www.masonite.com.
Masonite International Corporation is a leading global manufacturer of residential and commercial doors, committed to providing the highest value building products to our customers in more than 70 countries around the world.
Have something to say? Share your thoughts with us in the comments below.