USA - Owens Corning has completed its USD 3.9 billion acquisition of Masonite International Corporation, a global leader in interior and exterior doors.
“This acquisition strengthens our market position in building materials,” said Brian Chambers, CEO of Owens Corning. “We are excited to expand our offering of high-value branded building materials.”
Founded in 1925, Masonite operates 64 facilities primarily in North America and employs over 10,000 people. With this acquisition, Owens Corning’s annual revenue increases to $12.5 billion, with adjusted EBITDA of $2.9 billion. The company expects $125 million in cost synergies and significant shareholder value creation.
Masonite shareholders approved the transaction on April 25, 2024. Masonite’s shares will be delisted from the NYSE.
Chris Ball, previously President of Masonite’s Global Residential business, has been named President of Owens Corning’s Doors business, reporting directly to CEO Brian Chambers.
