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- PGT Innovations Inc (NYSE:PGTI) has acquired the remaining outstanding 25% ownership interest in Eco Enterprises LLC (Eco). The financial terms were not disclosed.
- The company first acquired 75% ownership stake in Eco in 2021 to accelerate revenue growth, expand margins, and strengthen the supply chain.
- Eco is a brand of aluminum, impact-resistant windows, and doors primarily serving the South Florida region, with manufacturing and glass processing facilities in Miami, Florida.
- The acquisition helped PGT by adding glass production capacity while diversifying and bolstering product lines to provide opportunities in residential and commercial markets.
- “Since acquiring ownership in Eco, we’ve been able to utilize this vertical integration to service the glass needs for some of our other brands,” said President and CEO Jeff Jackson.
- The company held $48.3 million in cash and equivalents as of April 1, 2023.
- Price Action: PGTI shares are trading higher by 1.24% at $26.89 on the last check Monday.
CNH Takes Minority Investment In Drone Imaging AI Company Bem Agro; No Financial Terms Disclosed
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