Masco (MAS - Get Report) , the maker of Behr paint, Delta faucets and KraftMaid cabinets, on Tuesday said it was selling its Milgard windows and doors unit to privately held MI Windows and Doors for approximately $725 million.
Terms of the deal weren't disclosed. The sale is expected to close in the fourth quarter, subject to typical closing conditions.
Masco saw its stock price gain in August on news of a strong lineup of suitors for its cabinet-making and windows unit, including private-equity firms Bain and American Industrial Partners.
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The Livonia, Mich., building-products company in June said it was putting the cabinet and windows unit up for sale. The division reported $120 million of operating profit on $1.7 billion in sales for 2018, according to Bloomberg.
Shares of Masco were up 2.5%, or $1.04 a share, at $42.72 in trading on the New York Stock Exchange.
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