MasterBrand Agrees To Combine With American Woodmark Via An All-Stock Merger, The Combined Company Would Have A Pro Forma Equity Value Of $2.4B And An Enterprise Value Of $3.6B

Author: Benzinga Newsdesk | August 06, 2025 06:40am

Under the terms of the agreement, at closing, American Woodmark shareholders will receive 5.150 shares of MasterBrand common stock for each share of American Woodmark common stock owned. MasterBrand and American Woodmark shareholders will own approximately 63% and 37% of the combined company, respectively, on a fully diluted basis. Pro forma for the transaction, the trailing 12 months adjusted EBITDA1 of the combined company is projected to be $639 million inclusive of anticipated run rate cost synergies of approximately $90 million2 by the end of year three.

Delivering anticipated run-rate cost synergies of approximately $90 million3 by the end of year three and accretion to adjusted diluted EPS in year two, both following close.

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