JELD-WEN Announces Purchase Agreement for Towanda, PA Facility as a Result of Court-Ordered Divestiture Process

Core Points - JELD-WEN has entered into an asset purchase agreement to divest its Towanda, Pennsylvania business to Woodgrain Inc. for approximately $115 million, following a court order [1][6] - The CEO stated that the decision to proceed with the divestiture is in the best interest of the company and its stakeholders, despite the disappointment with the court ruling [2][3] - The company anticipates an annual revenue reduction of approximately $150 million to $200 million and an EBITDA reduction of about $25 million to $50 million in the twelve months following the divestiture [5] Company Overview - JELD-WEN is a leading global manufacturer of building products, including high-performance doors and windows, operating in 15 countries and employing around 18,000 associates [7]