Business NewsMarketWire • Itochu Announces Divestiture of North American Building Materials Distributor to Platinum Equity

Itochu Announces Divestiture of North American Building Materials Distributor to Platinum Equity

Itochu Announces Divestiture of North American Building Materials Distributor to Platinum Equity

LOS ANGELES, CA--(Marketwired - Mar 27, 2015) - ITOCHU Corporation (headquarters in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereafter "ITOCHU") and ITOCHU International Inc. announced today that ITOCHU has reached an agreement with Platinum Equity, a Los Angeles based global private equity firm, under which Platinum Equity will acquire PrimeSource Building Products, Inc. The transaction is subject to customary closing conditions, including legal procedures and approval by antitrust authorities, and is expected to close promptly upon receiving the necessary approvals.

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