10 Sep. 2011|
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WoodCrafters, founded in 1983 in Weslaco, TX, specializes in the manufacture of bathroom vanities and vanity sink tops.
Fortune Bands CEO Chris Klein characterized the deal as a bet on the recovering housing market. MasterBrand Cabinets president Dave Randich will head the target company under Fortune's ownership.
During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia.
WoodCrafters operates eight locations, including manufacturing facilities and two showrooms in southern Texas and northern Mexico. In October 2011, its parent conglomerate, Fortune Brands Inc., spun out its home and security operations as a separate company in what was seen as an effort to ward off investor pressure.
WoodCrafters will operate as a business unit of MasterBrand Cabinets Inc., Fortune's kitchen and bath cabinetry unit, with its current management team, staffing, operations and locations in place.