Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 3, 2023

Article Excerpt

MASONITE INTERNATIONAL CORP., $86.83, symbol DOOR on New York, is a maker of interior and exterior doors for new construction as well as renovation and remodelling. The company’s client list has grown to more than 6,500 customers worldwide since operations started in 1925. In 2022, it sold 31 million doors. Masonite continues to expand with selective acquisitions. Under its “Doors That Do More” growth strategy, it purchased North Carolina-based Endura Products for $375 million in January 2023. Endura makes high-performance door frames and door system components for the premium segment of the door industry. On October 19, 2023, Masonite announced the acquisition of Fleetwood Aluminum Products LLC for $285 million in cash. Fleetwood offers premium, aluminum-framed glass door and window solutions for luxury homes. The company’s products are fully customizable for the needs of the end-user. Fleetwood is a family-owned business based in California. It manufactures all of its products from a single, 200,000-square-foot facility employing 350 people. In 2024, it is expected to…