Owens Corning (parent company of Masonite) has entered into an amended agreement to sell its glass reinforcements business to Praana Group, updating the terms of a previously announced transaction. The revised agreement eliminates seller notes and increases up-front cash proceeds, while adjusting the total enterprise value of the sale from $755 million to $645 million. Company officials said the change reflects market conditions impacting the business while maintaining a consistent valuation multiple.
The move is part of Owens Corning’s strategy to focus on its core building products operations in North America and Europe and exit more capital-intensive segments, officials said. The transaction is expected to close in the second quarter of 2026.