MASONITE INTERNATIONAL CORPORATION TO ACQUIRE PGT INNOVATIONS IN A $3 BILLION TRANSACTION

19 December 2023

On December 18th, 2023, Masonite International Corporation (“Masonite” or the “Company”, NYSE: DOOR), a leading global designer, manufacturer, marketer and distributor of interior and exterior doors and premium door systems, and PGT Innovations, Inc. (“PGT Innovations”, NYSE: PGTI), a designer and manufacturer of patio door and premium window solutions, and recognized leader in technically advanced products for impact rated glass applications, announced a definitive agreement under which Masonite will acquire PGT Innovations for a combination of cash and Masonite shares with a total transaction value of $3.0 billion.

Under the terms of the agreement, PGT Innovations shareholders will receive $41.00 per each PGT Innovations share they own, comprised of $33.50 in cash and $7.50 in common shares of Masonite.

The per share consideration represents a premium of approximately 24% to PGT Innovations’ 30-day volume weighted average share price.

Upon completion of the transaction, Masonite shareholders will own approximately 84% of the combined company, with PGT Innovations shareholders owning approximately 16%.

Masonite Announces Transformative Acquisition of PGT Innovations, Creating a Leading Door and Window Solutions Company with Over $4 Billion In Combined Revenue


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