Masonite Announces Acquisition of Algoma Hardwoods Inc.April 24th, 2012 | Category: Industry News
Masonite International Corp. announced it has completed the acquisition of all of the capital stock of Algoma Hardwoods Inc., a manufacturer of architecturally specified doors, which is headquartered in Algoma, Wis. Algoma also has a location in Jefferson City, Tenn. According to the announcement, Algoma employs approximately 350 people and its 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,” says 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,” adds Henk Wolst, Algoma’s executive vice president 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.”