Masco Corporation Finalizes Sale of Kichler Lighting to Kingswood
Masco Corporation Completes Sale of Kichler Lighting
Masco Corporation (NYSE: MAS) has announced a significant milestone with the completion of the sale of Kichler Lighting to an affiliate of Kingswood Capital Management. This strategic move marks a pivotal moment for Masco as it continues to enhance its focus on its core home improvement and building products business.
Overview of Kichler Lighting
Kichler Lighting, renowned for its decorative residential and light commercial lighting products, has its headquarters in Solon, Ohio. The company is recognized for offering an extensive range of products that include ceiling fans and LED lighting systems, making it a key player in both the consumer and professional markets. The new ownership under Kingswood Capital Management, based in Los Angeles, California, is expected to further bolster Kichler's market presence in decorative lighting.
Masco Corporation's Executive Comments
Keith Allman, the President and CEO of Masco Corporation, expressed optimism regarding this transaction. "On behalf of Masco, we wish the Kichler Lighting, Kingswood Capital Management, and Progress Lighting teams the best in this new venture," Allman stated, reflecting the goodwill Masco extends towards its former subsidiary and its new ownership.
About Masco Corporation
Masco Corporation, headquartered in Livonia, Michigan, is a global leader in the design, manufacture, and distribution of a diverse range of branded home improvement products. The company boasts a robust portfolio that includes well-known brands such as Behr paint, Delta faucets, and HotSpring spas. These brands are strategically leveraged across various product categories and sales channels, enabling Masco to provide value not only to customers but also to shareholders.
Strategic Business Focus
This sale aligns with Masco's ongoing efforts to streamline its operations and enhance profitability. By divesting from non-core segments, Masco can concentrate resources on its primary offerings, which include innovative household solutions and quality building materials. The company’s strategic focus continues to be on developing remarkable products that resonate with consumer needs and market trends.
Frequently Asked Questions
What was the recent sale announced by Masco Corporation?
Masco Corporation announced the completion of the sale of Kichler Lighting to Kingswood Capital Management.
What products does Kichler Lighting offer?
Kichler Lighting specializes in decorative residential and light commercial lighting products, as well as ceiling fans and LED lighting systems.
Where is Masco Corporation headquartered?
Masco Corporation is headquartered in Livonia, Michigan.
What brands are owned by Masco Corporation?
Masco's portfolio includes reputable brands like Behr, Delta, Hansgrohe, and Liberty, among others.
What did Masco's CEO say about the sale?
Masco's CEO Keith Allman expressed best wishes for Kichler Lighting and its new owners, emphasizing a positive outlook for their future endeavors.
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