MasterBrand Completes Merger with American Woodmark

MasterBrand, Inc. has successfully completed its all-stock merger with American Woodmark Corporation. The combined company, operating under the MasterBrand name and NYSE ticker symbol "MBC", aims to establish the most comprehensive portfolio of trusted cabinetry brands in North America. This merger is expected to enhance geographic reach, financial strength, and capabilities, leading to an estimated $90 million in annual run-rate cost synergies by the end of year three. American Woodmark shareholders will receive 5.150 shares of MasterBrand common stock for each share of American Woodmark common stock. Following the merger, American Woodmark will be delisted from the Nasdaq Stock Market. Three former American Woodmark directors have joined MasterBrand's Board of Directors. MasterBrand will maintain its headquarters in Beachwood, Ohio, and a presence in Winchester, Virginia.