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.
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy.