Fortune Brands acquires WoodCrafters for $300 million
Deerfield-based Fortune Brands Home & Security said it has acquired WoodCrafters Home Products, a privately-owned manufacturer of bathroom vanities and vanity sink tops for $300 million.
The Weslaco, Texas-based WoodCrafters has estimated annual sales of $230 million. and operates manufacturing facilities in southern Texas and northern Mexico. The company will become part of the Fortune Brands' Kitchen & Bath Cabinetry segment and operate as a business unit of MasterBrand Cabinets, Inc., with its current management team, staffing, operations and locations, the company said in a release. WoodCrafters has approximately 2,000 associates.
"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, chief executive officer, 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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