Schrock Cabinet Co.
* Industry leader Masco increased its market share lead, and topped $1 billion in cabinet sales, with the July 1997 acquisition of Texwood Ind. of Duncanville, TX. Texwood recorded approximately $150 million in sales in 1997. Masco now controls about 15% of the estimated $6.5 billion U.S. cabinet market.
* Fortune Brands, a conglomerate whose portfolio includes Aristokraft Cabinets, bought Schrock Cabinet Co. of Hilliard, OH, for $107.5 million. The June 1998 acquisition of the countries fifth largest cabinet company nearly doubled Fortune Brands' cabinet sales.
* Armstrong World Industries, the world's largest flooring manufacturer, entered the cabinet business in 1998 with its $1.15 billion acquisition of Triangle Pacific of Duncanville, TX. Armstrong purchased the company primarily for its hardwood flooring division, but as part of the package, Armstrong acquired Triangle-Pacific's Bruce and IXL cabinet companies, which had combined 1997 sales of $183.2 million and ranked as the sixth largest cabinet producer in the country.
* Pfingsten Partners, a Deerfield, IL-based private equity firm, entered the cabinet market with the purchase of Norcraft Industries of St. Paul, MN. Norcraft had 1997 sales of more than $84 million.
Excerpted from Wood & Wood Products, November 1998
|Printer friendly Cite/link Email Feedback|
|Publication:||Wood & Wood Products|
|Date:||Dec 1, 1999|
|Previous Article:||Masco Corp.|
|Next Article:||IWF: North America's Largest.|