Georgia Gulf acquires siding manufacturer
Georgia Gulf Corp., an Atlanta-based public company, has announced the purchase of Exterior Portfolio by Crane, a siding manufacturer owned by the Crane Group, for approximately $72 million. Headquartered in Columbus, Ohio, Exterior Portfolio is a leading U.S. manufacturer and marketer of siding products with 2010 revenues of approximately $100 million.
"This acquisition is a strong fit with our Royal Building Products business, and the combination will create the third largest vinyl siding manufacturer in North America,” said Paul Carrico, president and CEO of Georgia Gulf in a press release. “We expect this acquisition to be accretive in 2011, excluding one-time costs, and to fund the acquisition out of cash on hand.”
Georgia Gulf Corp. is an integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. The company's vinyl-based building and home improvement products, marketed under Royal Group brands, include window and door profiles, mouldings, siding, pipe and pipe fittings, and deck, fence and rail products.