News
Kraftmaid parent company sells cabinet business
In June, Masco announced that it planned to divest its cabinetry businesses.
Saturday, November 16th 2019, 11:45 AM EST
Updated:
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The Michigan-based parent company of Kraftmaid has announced the sale of its cabinetry business.
In June, Masco announced that it planned to divest its cabinetry businesses.
A deal is now secured for ACProducts, Inc. to acquire Kraftmaid from Masco for $1 billion, according to the release.
Kraftmaid has two production facilities in Middlefield and one in Orwell.
Masco cabinetry employs more than 4,000 people nationwide; it is unclear how many are employed at the Middlefield and Orwell facilities.
The sale is expected to close during the first quarter of 2020.