MergerMay 28, 2026, 09:17 AM
MasterBrand Completes Merger with American Woodmark
AI Summary
MasterBrand, Inc. successfully completed its all-stock merger with American Woodmark Corporation on May 28, 2026, creating the largest manufacturer of residential cabinets in North America. The transaction is expected to generate approximately $90 million in annual run-rate cost synergies by the end of year three and be accretive to adjusted diluted earnings per share in year two. American Woodmark shareholders received 5.150 shares of MasterBrand common stock for each American Woodmark share, and American Woodmark's common stock will be delisted from Nasdaq. MasterBrand also drew down a $375 million Term Loan A to repay American Woodmark's existing indebtedness.
Key Highlights
- MasterBrand completed its all-stock merger with American Woodmark on May 28, 2026.
- American Woodmark shareholders received 5.150 shares of MasterBrand common stock per share.
- MasterBrand issued approximately 77,031,379 shares as merger consideration.
- The combined company expects $90 million in annual run-rate cost synergies by year three.
- The merger is expected to be accretive to adjusted diluted EPS in year two.
- MasterBrand drew down a $375 million Term Loan A to repay American Woodmark's $367.5 million debt.
- Three former American Woodmark directors joined MasterBrand's Board of Directors.
- American Woodmark's common stock will be delisted from Nasdaq.
Price Impact
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