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LIVONIA, Mich. (March 1, 2019) – Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, announced today that it will explore strategic alternatives for its Cabinetry and Window businesses.
“Over the past five years, we have been executing our strategy to drive the full potential of our core businesses, leverage opportunities across our organization, and actively manage our portfolio to drive shareholder value,” said Keith Allman, Masco’s President and CEO. “Our Cabinetry and Window businesses are leaders in their respective markets and are well positioned to continue their growth. However, we believe we can potentially drive greater shareholder value by exploring strategic alternatives for these businesses. We expect to complete this review by the end of June.”
For 2018, the Cabinetry Products and Windows and Other Specialty Products segments on a combined basis reported $1.7 billion in net sales, $120 million in operating profit and $161 million in adjusted EBITDA (defined as operating profit plus depreciation and amortization expense of $36 million and excluding $5 million of rationalization charges), which represented 20 percent of Masco’s consolidated net sales, 10 percent of consolidated operating profit, and 11 percent of consolidated adjusted EBITDA.