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Subsequent Event
12 Months Ended
Jan. 02, 2021
Subsequent Events [Abstract]  
Subsequent Event

23. Subsequent Event

On February 1, 2021, we completed our previously announced acquisition of a 75% ownership stake in ECO Window Systems and its related companies, ECO Glass Production, LLC, and Unity Windows, LLC (together “ECO”), Florida limited liability companies, for fair value consideration of $108.0 million, including $100.0 million in cash, and $8.0 million in PGT Innovations, Inc. common stock. The cash portion of the purchase price was financed by a second add-on issuance on January 25, 2021 of $60.0 million aggregate principal amount of 6.75% senior notes to the 2018 Senior Notes due 2026 on January 25, 2021, issued at 105.5% of their principal amount, resulting in a premium to us of $3.3 million, together with cash in hand. The common stock portion of the purchase price was represented by the issuance of 357,797 shares of PGT Innovations, Inc. common stock on February 1, 2021, with a closing price value of $22.36 per share on that date. All of those shares are restricted from being sold by the recipient for a three-year period beginning on February 1, 2021. ECO is a manufacturer and installer of aluminum, impact-resistant windows and doors, serving the South Florida region since 2009. ECO is headquartered in Medley, Florida, near Miami, Florida, and has three manufacturing locations in the region.