BBXIA - BBX Capital's subsidiary Renin Holdings acquires Colonial Elegance for $39M

Renin Holdings LLC, a wholly-owned subsidiary of BBX Capital (BBXIA), has acquired Colonial Elegance for ~$39M. Colonial Elegance is a supplier and distributor of building products, including barn doors, closet doors, and stair parts, and its customers include various big box retailers in the United States and Canada. Jarett Levan, Chief Executive Officer of BBX Capital, said, “Renin has had success in its manufacturing and distribution of closet doors and barn doors throughout North America, and we believe the addition of Colonial Elegance will allow Renin to expand into new markets and geographic areas.” Renin funded the acquisition with proceeds from a credit facility and a $5M equity contribution from BBX Capital.

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BBX Capital’s subsidiary, Renin Holdings, acquires Colonial Elegance for $39M