Broadview Holding to acquire Formica Group from Fletcher Building for $840m

Fletcher Building Limited, an industrial holding company with a focus on materials technology and energy, entered into an agreement to sell the Formica Group, a leader in the design, manufacture and distribution of innovative surfacing products for commercial and residential applications, to Broadview Holding BV, a Netherlands-based industrial firm with a significant presence in high-pressure laminate and associated product lines, for a sale price of $840m. "This combination represents an exciting future for the Formica Group, as the two businesses are complimentary with a strong strategic alignment. Formica brings a global reach with its operational and commercial capabilities and Broadview brings unique and innovative product technologies, including Trespa exterior products and Fenix acrylic surfaces," said Mitch Quint, President of Formica Corporation North America.