MIDDLEFIELD, Ohio (WKBN) – The parent company of Kraftmaid Cabinetry in Middlefield and Orwell has entered into a sales agreement with a new company.
Michigan-based Masco Corporation plans to sell its cabinetry business to ACProducts, Inc.
The company manufactures cabinetry products owned by American Industrial Partners.
According to a news release, the $1 billion deal is expected to close during the first quarter of 2020, subject to closing conditions and a regulatory review.
Masco’s president and CEO previously said the sale will reduce its business in the new construction market, which is cyclical, and allow for a more focused effort on plumbing and decorative architectural products.