MasterBrand will buy American Woodmark in an all-stock transaction valued at $2.4 billion.
The deal combines two of North America’s largest cabinet makers, giving the merged company an enterprise value of $3.6 billion. At closing, American Woodmark shareholders will receive 5.150 shares of MasterBrand stock for each AWC share. The combined company will be owned approximately 63% by MasterBrand shareholders and 37% by American Woodmark shareholders.
Why it matters: The merger will unite two major players in kitchen, bath, and home cabinetry, offering builders, dealers, and homeowners a single source for stock, semi-custom, and premium brands. Together, they’re expected to reach more markets, speed up service, and better compete with imports, while lowering costs through leaner purchasing and production.
The numbers:
- $90M in targeted annual cost savings by year three through purchasing, manufacturing, and operational efficiencies.
- 7,700+ dealers, major retailers, and builder partners in combined portfolio.
- 20+ manufacturing facilities with 13,000+ MasterBrand employees.
- 7,800+ American Woodmark employees across manufacturing and distribution centers.
- Expected to close in early 2026, pending regulatory and shareholder approvals.
Partnering Together:
“Bringing together MasterBrand and American Woodmark will be a transformative step for both of our organizations that will even better position us to serve the evolving needs of our customers,” said Dave Banyard, MasterBrand’s president and CEO, who will lead the combined company.
“With MasterBrand, we are joining a partner that shares our commitment to investing for growth, investing in associates, and investing for the future,” said Scott Culbreth, American Woodmark’s president and CEO.
The new entity will retain the MasterBrand name and headquarters in Beachwood, Ohio, with significant operations continuing in Winchester, Virginia.
