08:11 AM EDT, 05/21/2024 (MT Newswires) -- MasterBrand ( MBC ) said Tuesday it has agreed to acquire Supreme Cabinetry Brands for $520 million in cash from GHK Capital Partners.

The residential cabinets manufacturer said it expects to finance the acquisition through cash on hand and current credit facilities and has also arranged an incremental debt commitment from JPMorgan Chase's ( JPM ) JPMorgan Chase Bank.

The company intends to complete the acquisition in Q3, subject to customary closing requirements, MasterBrand ( MBC ) added.

The acquisition is anticipated to be accretive to the company's adjusted earnings per diluted share within the first full year after completion, according to MasterBrand ( MBC ).

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