Masco sells Milgard brand to MI Windows and Doors
Masco Corporation, the home improvement and building products manufacturing giant, has entered into a definitive agreement to sell its Milgard Windows and Doors brand to MI Windows and Doors for approximately $725 million.
MI Windows and Doors, based in Gratz, Pa., manufactures precision-built vinyl and aluminum windows and sliding patio doors.
The closing of the sale is expected to occur during the fourth quarter of 2019, subject to customary closing conditions and regulatory review, Masco said.
“This acquisition aligns with our strategies to diversify our product offering, balance the end markets we serve, and expand our presence in growing markets,” said Matt DeSoto, MI CEO. “Milgard’s dedication to manufacturing high-quality, market-preferred windows and doors makes it a natural fit for MI, as both companies share a family-first culture where team member and customer satisfaction are top priorities.”
The deal follows Masco’s recent strategic review of its portfolio, that resulted in the company saying it would sell its window and cabinet businesses.
In June, Masco CEO and President Keith Allman said that the company determined that pursuing the sale of Masco Cabinetry, Milgard Windows and its UK Window Group in three separate transactions is “the most appropriate path forward to accomplish this value creation.”
Following this deal, Vishal Singh, Milgard president said, “MI has a deep history in the window industry, and we are excited about the opportunity to join their first-class organization. As part of the MI team, we will be better positioned to enhance our growth and continue delivering the best products and customer experiences to our dedicated dealer network.
Based in Livonia, Mich., Masco’s brands include Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; KraftMaid and Merillat cabinets; Kichler decorative and outdoor lighting; and HotSpring spas.
MI Windows and Doors, based in Gratz, Pa., manufactures precision-built vinyl and aluminum windows and sliding patio doors.
The closing of the sale is expected to occur during the fourth quarter of 2019, subject to customary closing conditions and regulatory review, Masco said.“This acquisition aligns with our strategies to diversify our product offering, balance the end markets we serve, and expand our presence in growing markets,” said Matt DeSoto, MI CEO. “Milgard’s dedication to manufacturing high-quality, market-preferred windows and doors makes it a natural fit for MI, as both companies share a family-first culture where team member and customer satisfaction are top priorities.”
The deal follows Masco’s recent strategic review of its portfolio, that resulted in the company saying it would sell its window and cabinet businesses.
In June, Masco CEO and President Keith Allman said that the company determined that pursuing the sale of Masco Cabinetry, Milgard Windows and its UK Window Group in three separate transactions is “the most appropriate path forward to accomplish this value creation.”
Following this deal, Vishal Singh, Milgard president said, “MI has a deep history in the window industry, and we are excited about the opportunity to join their first-class organization. As part of the MI team, we will be better positioned to enhance our growth and continue delivering the best products and customer experiences to our dedicated dealer network.
Based in Livonia, Mich., Masco’s brands include Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; KraftMaid and Merillat cabinets; Kichler decorative and outdoor lighting; and HotSpring spas.