The acquisition by Cary, N.C.-based Ply Gem includes Andersen’s Silver Line and American Craftsman brands. Andersen, headquartered in Bayport, Minn., explained the move as a shift in company focus toward its product categories that drive the most growth.
"This divestiture is part of Andersen's broader strategy to sharpen our focus on our Andersen, Renewal by Andersen and specialty brands; continue to make the significant investments required to support our fast-growing, proprietary Fibrex engineered composite products; and deliver exceptional value to our customers for years to come," says Andersen’s chairman and CEO Jay Lund.
As part of the $190 million sale, Ply Gem will acquire the four Silver Line manufacturing plants, distribution, and support services. The more than 4,000 employees working in these locations will transition to Ply Gem with the business.
"The Silver Line and American Craftsman brands are industry leading brands and have been trusted by customers and consumers for over 60 years,” says Gary E. Robinette, Ply Gem’s Chairman and CEO. “Ply Gem is excited to add them to our existing portfolio of quality window products.”
The transaction is expected to close early in 2018’s fourth calendar quarter.