CARY, N.C.--(BUSINESS WIRE)--Cornerstone Building Brands, Inc. (NYSE: CNR) (the “Company”), the largest manufacturer of exterior building products in North America, has reached an agreement to acquire Cascade Windows (“Cascade”) for a cash purchase price of $245 million. 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.
"Cascade is an excellent strategic fit for our Company and advances our strategy to grow in the large, deep residential windows market,” said James S. Metcalf, Chairman and Chief Executive Officer. “Additionally, the acquisition expands our manufacturing presence across the rapidly growing west coast region and enhances our tailored solutions offering for our customers. I look forward to welcoming our new teammates from Cascade to the Cornerstone Building Brands family.”
Cornerstone Building Brands expects the transaction to be accretive through purchasing and manufacturing optimization synergies, margin expansion and revenue growth opportunities. Cascade generated approximately $160 million in sales during the trailing twelve months ended May 2021. The transaction, subject to regulatory approval and customary closing conditions, is expected to be funded with cash on hand and close in the third quarter of 2021.
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