Brief: PGT Innovations to Acquire 75% Ownership Stake in Eco Window Systems

PGT Innovations

07/01/2021 12:52

Jan 7 (Reuters) - PGT Innovations Inc  PGTI.N :
    * PGT INNOVATIONS TO ACQUIRE 75% OWNERSHIP STAKE IN ECO
WINDOW
SYSTEMS
    * PGT INNOVATIONS INC - PURCHASE PRICE OF $108 MILLION FOR
75%
OWNERSHIP STAKE
    * PGT INNOVATIONS INC - EXPECTED TO ACCELERATE REVENUE
GROWTH AND
EXPAND MARGINS IN FIRST YEAR
    * PGT INNOVATIONS INC - EXPECTED TO BE ACCRETIVE TO ADJUSTED
EPS
WITHIN FIRST YEAR
    * PGT INNOVATIONS INC - PURCHASE PRICE OF $108 MILLION IS
COMPRISED OF $100 MILLION CASH AND $8 MILLION OF CO'S COMMON
STOCK
    * PGT INNOVATIONS INC - CO EXPECTS TO FINANCE TRANSACTION
WITH
CASH ON HAND AND EXISTING OR ADDITIONAL FINANCING ARRANGEMENTS

Source text for Eikon:  ID:nBw7cy2Dda 
Further company coverage:  PGTI.N 

 ((Reuters.Briefs@thomsonreuters.com;))