Masonite to Be Acquired for $3.9 Billion

February 9th, 2024 by Drew Vass, Executive Editor

Weeks after exiting a deal with PGT Innovations, pocketing an $84 million termination fee, Masonite International Corp. is now set to be acquired by Owens Corning. The $3.9 billion deal brings Owens Corning into the interior and exterior doors market, growing its revenue and earnings to approximately $12.6 billion, officials said.

Owens Corning will acquire all outstanding shares of Masonite for $133 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on February 8, 2024.

Masonite is viewed as an opportunity to “add a scalable new growth platform,” said Brian Chambers, board chairperson and CEO of Owens Corning. To date, the company has focused on roofing, insulation and composites.

Look for additional details in Monday’s newsletter.

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