JELD-WEN sells Towanda business for $115 million

By Bobby Samwell • Friday, December 20 06:02 • Permanent Link

JELD-WEN Holding, Inc. (NYSE: JELD) has announced the sale of its Towanda, Pennsylvania business and related assets to Woodgrain Inc. for approximately $115 million. The company expects this divestiture to result in an annual reduction of approximately $150 million to $200 million of revenue and approximately $25 million to $50 million of EBITDA during the twelve months following the closing of the transaction. Additionally, they anticipate a non-cash pre-tax impairment charge of approximately $25 million to $35 million.

The sale of Towanda is expected to be approximately neutral to net debt leverage, and the transaction is currently anticipated to close as early as December 31, 2024. JELD-WEN's CEO, William J. Christensen, expressed the company's commitment to advancing its transformation efforts to solidify its foundation and drive both cost reductions and sustainable growth.

JELD-WEN Holding, Inc. is a leading global designer, manufacturer, and distributor of high-performance interior and exterior doors, windows, and related building products, operating facilities in 15 countries in North America and Europe, with approximately 18,000 employees. Today the company's shares have moved -3.3% to a price of $8.48. Check out the company's full 8-K submission here.

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