MHProNews has learned from streetinsider that Patrick Industries, Inc. has completed its acquisition of Cana Holdings, Inc., with its two facilities, one in Americus, Georgia and one in Elkhart, Indiana where Patrick is headquartered. Cana produces custom cabinetry, primarily supplying the manufactured housing industry as well as the residential, hospitality and institutional markets.

Cana’s revenues for 2015 were $18 million; the net purchase price was roughly $16.8 million.

“The acquisition of Cana provides the opportunity for Patrick to capitalize on our existing cabinetry manufacturing expertise and expand our footprint as a premier supplier in both the MH and industrial markets,” said Todd Cleveland, Chief Executive Officer of Patrick. “This acquisition is an excellent opportunity for Patrick to further increase our MH content, as we are increasingly optimistic about the future potential for growth in the MH market.”

Patrick will continue to operate Cana on a stand alone basis utilizing the existing facilities and the Cana brand name. ##

(Photo credit: insideindianabusiness)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.