ACPI Closes on Masco Cabinetry Purchase; Forms New Unit
ANN ARBOR, MI — ACProducts, Inc. (ACPI), the Texas-based manufacturer with holdings across virtually all cabinet market sectors, has completed its acquisition of Masco Cabinetry, a unit that includes KraftMaid, Merillat, QualityCabinets and Cardell Cabinetry, the company announced.
The acquisition – which closed, as expected, in mid-February – completes the formation of a new business entity, Cabinetworks Group, a portfolio of cabinet brands that spans “the full spectrum of framed and frameless products that reach every consumer and every price point,” company officials said.
Masco Corp.’s former cabinet unit – the nation’s third-largest manufacturer, behind only MasterBrand Cabinets and American Woodmark – was acquired late last year for $1 billion, months after Masco announced that it intended to sell both its cabinet and windows divisions – a decision, Masco said, that was driven by a desire to minimize the company’s exposure to the new-construction sector and focus on its less-cyclical plumbing and decorative architectural products businesses. Masco’s remaining portfolio includes Delta Faucet and Hansgrohe faucets, bath and shower fixtures; Behr paint; Kichler decorative and outdoor lighting, and HotSpring spas.
The Ann Arbor, MI-based Cabinetworks, according to company officials, is now the largest independently owned manufacturer and distributor of cabinets in the U.S. ACPI, a company owned by American Industrial Partners, now produces more than a dozen brands serving the stock, semi-custom, framed, frameless and inset cabinet markets. The company’s portfolio includes Advanta, Cabinets 2000, Cardell, DesignCraft, Echelon, KraftMaid, Master WoodCraft, MasterCraft, Medallion, Merillat, Modico, QualityCabinets, Schuler, Serenade, Smart, Studio Full Access and Yorktowne. Customers include kitchen/bath dealers, multi-family home builders, distributors and home centers.
“We’re proud to be in the kitchen cabinet business and are humbled to serve great customers and work with the talented and passionate people in our organization,” said former Masco Cabinetry CEO Joe Gross, appointed as CEO of Cabinetworks. “Our business is 100% focused on building best-in-class cabinetry and providing excellent service for a diverse set of customers and channels. We could not have asked for a better partner in this transaction than ACPI.”
“We’re excited to bring together two great businesses in forming Cabinetworks. Cabinetworks will be wholly focused on delivering high-quality cabinetry and peace of mind for our customers,” added Larry Denbrock, Cabinetworks’ president and chief revenue officer.