Acquisition of Norcraft by Fortune Brands

May 12, 2015

Cleary Gottlieb represented Citigroup Global Markets, as financial advisor to Norcraft Companies, in Norcraft’s acquisition by Fortune Brands Home & Security. The acquisition, effected through a tender offer for Norcraft’s shares followed by a merger under Section 251(h) of the DGCL, closed on May 12, 2015. Fortune Brands paid $25.50 per share in cash to acquire all of the outstanding shares of Norcraft, for a total transaction value, including assumed debt, of approximately $600 million.

Norcraft manufactures several brands of cabinet products sold through retailers, home builders, contractors and its own retail stores. Fortune Brands is a leading manufacturer of kitchen and bathroom cabinetry in the United States, with a portfolio of home product brands including MasterBrand cabinets, Moen faucets and Master Lock and SentrySafe security products.