Cornerstone Building Brands Completes Acquisition of Cascade Windows, Deepens Residential Product Offering

Rhea-AI Summary

Cornerstone Building Brands (NYSE: CNR) has successfully acquired Cascade Windows for approximately $245 million, adjusting for customary costs. Cascade specializes in energy-efficient vinyl windows and doors and operates across the West and Pacific Northwest with 800 employees at nine locations. This acquisition bolsters Cornerstone's manufacturing capabilities in the growing west coast market and enhances its product offerings for residential construction and remodeling. The deal reflects Cornerstone's strategy to expand its portfolio and strengthen its market position.

Positive

• Acquisition of Cascade Windows enhances manufacturing presence on the west coast.
• Expected growth in tailored solutions offered to customers.
• Strengthens product portfolio in energy-efficient building materials.

Negative

• None.

Cornerstone Building Brands, Inc. (NYSE: CNR) (the “Company”), the largest manufacturer of exterior building products in North America, announced today that it has completed its acquisition of Cascade Windows (“Cascade”) for a cash purchase price of approximately $245 million, subject to customary adjustments. Cascade is a leading independent manufacturer of energy-efficient vinyl windows and doors serving the residential new construction and repair and remodel markets. Headquartered in Spokane Valley, Washington, Cascade has approximately 800 employees at six manufacturing and three distribution locations across the West and Pacific Northwest.

"We are excited to welcome our Cascade teammates to the Cornerstone Building Brands family,” said James S. Metcalf, Chairman and Chief Executive Officer. “With Cascade, we have expanded our manufacturing presence across the rapidly growing west coast region and enhanced our tailored solutions offering for our customers.”

About Cornerstone Building Brands

Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, insulated metal panels, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are deeply embedded in our culture, and we are committed to contributing positively to the communities where we live, work and play. For more information, visit us at www.cornerstonebuildingbrands.com

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FAQ

What is the purpose of Cornerstone Building Brands' acquisition of Cascade Windows?

The acquisition aims to expand manufacturing capabilities in the west coast region and enhance product offerings in energy-efficient building solutions.

How much did Cornerstone Building Brands pay for Cascade Windows?

Cornerstone Building Brands completed the acquisition for a cash purchase price of approximately $245 million.

What impact does the acquisition have on Cornerstone Building Brands' market position?

The acquisition strengthens Cornerstone's market presence in the west coast region and enhances its competitive position in the residential construction market.

How many employees does Cascade Windows have?

Cascade Windows employs approximately 800 individuals across its six manufacturing and three distribution locations.