There have been major changes in the makeup of the FDMC 300 over the past year.
Significantly, significant consolidations continue among the largest cabinet manufacturers. And there were 11 companies listed last year that are not included in the CMDF 300, along with other companies added and some name changes. In 2019, we identified eight companies in the Group of 300 that went bankrupt or closed, a higher than average number.
Several other companies have consolidated, and a few of these changes occurred at the end of the year and both companies involved are listed in the 2019 edition.
In 2019, sales of the FDMC 300 group of companies increased 4.5% to $ 57.171 billion.
The FDMC 300 is a group of the 300 largest producers of cabinetry, furniture, joinery, store fixtures, offices / contracts and components in North America. This summary of the sales performance of wood processing companies is published annually by FDMC magazine.
–One of the biggest news came in May with the sudden shutdown of Wood-Mode in Kreamer, Pa. The closure affected more than 900 employees. The company was one of the oldest and best-known cabinet makers in the country. Wood-Mode was bought by Bill French and reopened, with 235 employees on its payroll in the fall.
– In early 2020, ACPI completed the acquisition of the cabinetry division of Masco and formed Cabinetworks. Previously, Masco had an agreement to sell its cabinetry division, which includes the KraftMaid, Merillat, QualityCabinets and Cardell Cabinetry brands, to ACProducts Inc. ACPI’s divisions include wholly owned subsidiary Master WoodCraft Cabinetry, Smart Cabinetry, Cabinets 2000 and acpi. Previously, the cabinet division of Elkay Wood Products and Master WoodCraft Cabinetry had been purchased by ACProducts and are included in the ACPI FDMC 300 list for 2019.
– Ikea has announced that it will close its factory in Danville, Va., At the end of the year, cutting about 300 jobs in the United States. High raw material costs were cited for the shutdown, which was announced in July. Ikea made shelving and storage units there for the living room, but determined that it could produce them inexpensively in Europe and ship them to North America. The 930,000 square foot Ikea Industry Danville plant opened in Southside Virginia in 2008 and was the only production center in North America.
The 930,000 square foot Ikea Industry Danville plant was the company’s only production center in North America.
– Also in Virginia, Custom Wood Products, a manufacturer of custom kitchen and bathroom cabinetry, and outdoor cabinetry, reportedly closed and filed for Chapter 7 (liquidation) bankruptcy. An equipment auction was announced in June for the Roanoke-based company, also known as the Sugarloaf Cabinet Group.
–Amstore, a manufacturer of store accessories, reportedly closed in May, according to the Grand Rapids Business Journal. The history of the company dates back over a century. Citing a tough retail climate, the shutdown of the bespoke store environments company has left more than 100 people jobless.
– Citing recent commercial tariffs and a slow retail accessories market, Fleetwood Acquisition Corp., the parent company of Fleetwood Fixtures and High Country Millwork, filed for Chapter 11 bankruptcy in November. Revenue is said to have declined by 50% between 2018 and 2019. The company intends to streamline operations and come out of bankruptcy as a profitable business. We re-listed Fleetwood in the CMDF 300 in 2019.
–Nations Cabinetry replaced BJ Tidwell in San Antonio. Nations had more than 500 employees last year and had a turnover of 58 million dollars.
–VT Industries Inc. earlier announced the acquisition of Eggers Industries, a national door and millwork manufacturer based in Wisconsin. Eggers was listed separately a year ago, but is part of the VT list in the 2019 CMDF 300.
–Woodmont Cabinetry acquired Grandview Products two years ago, and we continued to list Grandview in Parsons, Kansas. For 2019, we’re also listing Dallas-based Woodmont as a separate operation in the FDMC 300.
–Archon Woodworks, a maker of custom cabinetry and wood products, unexpectedly closed in Minnesota, leaving up to 60 employees jobless. Archon was formed in 1983 as Hoffco Inc. The roof of the company’s plant in Indiana reportedly collapsed due to heavy snowfall in mid-February, halting production, ultimately forcing a shutdown at mid-March.