PGT Innovations Acquires Remaining 25% Ownership Interest In Eco Enterprises

PGT Innovations Inc 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.