CARY, N.C.–(Organization WIRE)–Cornerstone Developing Brands, Inc. (NYSE: CNR) (the “Company”), the biggest producer of exterior setting up items in North The usa, has arrived at an agreement to purchase Cascade Windows (“Cascade”) for a hard cash purchase price of $245 million. Cascade is a primary impartial company of electricity-economical vinyl windows and doorways serving the household new building and fix and transform markets. Headquartered in Spokane Valley, Washington, Cascade has roughly 800 staff members at 6 manufacturing and three distribution areas throughout the West and Pacific Northwest.
“Cascade is an exceptional strategic match for our Business and improvements our approach to mature in the big, deep residential home windows industry,” reported James S. Metcalf, Chairman and Main Government Officer. “Additionally, the acquisition expands our production presence across the swiftly increasing west coastline location and enhances our customized options supplying for our shoppers. I appear forward to welcoming our new teammates from Cascade to the Cornerstone Building Brands relatives.”
Cornerstone Making Models expects the transaction to be accretive by way of buying and production optimization synergies, margin growth and revenue expansion alternatives. Cascade generated around $160 million in gross sales during the trailing twelve months ended May perhaps 2021. The transaction, topic to regulatory acceptance and customary closing ailments, is expected to be funded with cash on hand and near in the third quarter of 2021.
About Cornerstone Creating Brands
Cornerstone Creating Models is the premier company of exterior setting up solutions for residential and lower-rise non-residential structures in North The united states. Headquartered in Cary, N.C., we serve household and professional clients throughout the new design and maintenance and remodel markets. Our current market major portfolio of solutions spans vinyl windows, vinyl siding, stone veneer, insulated steel panels, metallic roofing, metal wall programs and metallic extras. Cornerstone Building Brands’ wide, multichannel distribution system and expansive countrywide footprint contains additional than 20,000 personnel at producing, distribution and office environment areas all through North America. Company stewardship and environmental, social and governance (ESG) responsibility are deeply embedded in our lifestyle, and we are dedicated to contributing positively to the communities where by we stay, do the job and enjoy. For additional information, go to us at www.cornerstonebuildingbrands.com