Masonite Acquires Algoma Hardwoods
Expanding its footprint in the architectural door market once again, Masonite International Corp. has completed the acquisition of all of the capital stock of Algoma Hardwoods Inc. With approximately 350 employees, Algoma reports 2011 revenues exceeding $60 million. Terms of the transaction were not disclosed.
Headquartered in Algoma, Wis., Algoma manufactures architecturally specified doors at its facilities in Algoma and Jefferson City, Tenn. The company was founded in 1892 and has been manufacturing and selling door products since 1913.
The Algoma purchase follows closely on the heels of Masonite's acquisition of another architectural door manufacturer, Quebec-based Baillargeon Doors Inc., in March. Earlier this year, Masonite also added Birchwood Best, a Wisconsin-based manufacturer of architectural door skins. Last year, Masonite also added Marshfield DoorSystems, another producer of architectural wood doors headquartered in Marshfield, Wis.
"The combination of Algoma with our existing businesses and our vertically-integrated supply chain of door components provides our customers with a wider range of high quality, cost effective door products for commercial and architecturally specified applications," states Chris Virostek, Masonite's senior vice president of corporate development. "Algoma complements Masonite's existing Marshfield, Mohawk and Baillargeon branded commercial and architectural door businesses and provides an important additional platform of strategic growth for our company."
"We are excited to join the Masonite team," says Henk Wolst, Algoma's executive VP of sales and marketing. "Both Masonite and Algoma have solid reputations of delivering great customer service and innovative, high quality products. We look forward to partnering with Masonite to provide exciting new opportunities for our customers, employees and suppliers."