Source: Masonite International Corp.
Masonite International Corp. announced that it has received a binding offer from Perceva, a Paris-based independent investment firm, to acquire Premdor S.A.S., Masonite’s French door business. Pursuant to the offer, Masonite has the right to sell Premdor S.A.S. to Perceva on the terms included in the offer. Masonite has agreed with Perceva to an exclusivity period related to the potential sale.
The sale is subject to customary conditions including receipt of regulatory approvals and consultation with French employee representatives. Premdor S.A.S. and its subsidiaries (the “French Group”) manufacture and distribute doors to the commercial and residential markets predominantly in France. In the year ended December 28, 2014, the French Group had net sales of approximately €100 million and over 680 employees. No additional details of the transaction have been disclosed at this time.
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