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Woodgrain Inc., Fruitland, Id., has agreed to purchase national distributor Huttig Building Products, St. Louis, Mo., in an all-cash transaction valued at $10.70 per share, or approximately $350 million including the assumption of debt.
The deal, expected to close in the second quarter of 2022, is subject to regulatory approval and was unanimously approved by the Huttig board.
Woodgrain is a leading millwork company, with six divisions and over 30 manufacturing and warehouse facilities in the U.S. and Chile.
Huttig, now in its 138th year of business, is one of the largest domestic distributors of millwork, building materials, and wood products, with 25 distribution centers serving 41 states.
