Cornerstone Building Brands Agrees To Acquire Union Corrugating Company
Cary, NC - Cornerstone Building Brands Inc. (NYSE: CNR) announces that it has entered into a definitive agreement to acquire Union Corrugating Company Holdings Inc. (UCC), a provider of metal roofing, roofing components and accessories.
Headquartered in Fayetteville, North Carolina, UCC has approximately 700 employees across the Central and Eastern U.S. regions.
"The addition of UCC advances our growth strategy by expanding our offerings to customers in the high-growth residential metal roofing market,” said Rose Lee, Cornerstone's President and Chief Executive Officer. “Additionally, the acquisition
positions us to realize greater manufacturing economies of scale. I look forward to welcoming our colleagues from UCC to the Cornerstone Building Brands family.”
UCC generated approximately $250 million in net sales during the trailing twelve months ended August 2021. The transaction, subject to regulatory approval and customary closing conditions, is expected to be funded with cash on hand and close in the fourth
quarter. Cornerstone expects UCC results to be reported through the Commercial business segment.
About Cornerstone Building Brands
Cornerstone Building Brands manufactures exterior building products for residential and low-rise non-residential buildings in North America. For more information, visit www.cornerstonebuildingbrands.com.