Fortune Brands Acquires Firm
Lincolnshire, IL Fortune Brands, Inc., the parent company of Moen, Omega, Aristokraft, Schrock, Diamond, Kitchen Craft and HomeCrest Cabinetry, announced that its kitchen and bath cabinets business has purchased Capital Cabinet Corp., a supplier of cabinetry to homebuilders in the Las Vegas and southern California markets.
With annual sales of approximately $30 million, Capital Cabinets becomes part of Fortune Brands' MasterBrand Cabinets, Inc. unit (MBCI), the second-largest cabinet manufacturer in North America with annualized sales exceeding $1.2 billion, according to the company. Capital Cabinets is based in Las Vegas and had been privately held, Fortune Brands said.
"Through strong internal growth and successful high-return acquisitions, we're gaining significant share in kitchen and bath cabinetry," said Fortune Brands chairman and CEO Norm Wesley. "Capital Cabinets will help give us even better geographic and channel balance in a category with excellent long-term demographics."
"Capital Cabinets enhances our position in the fast-growing Las
Vegas and southern California markets," said Rich Forbes, president
of MasterBrand Cabinets. "We'll more efficiently serve
builder-direct customers in these markets and have a new platform
for growth in a very attractive region."