(Bloomberg) -- Nucor Corp. agreed to buy C.H.I. Overhead Doors Inc. from KKR & Co. in a deal valued at $3 billion as the US steelmaker continues to diversify into higher-margin finished steel products.

The largest US steelmaker said it expected the deal for the maker of residential and commercial garage doors to close some time in June or shortly thereafter and that the new business will add to its earnings immediately. The announcement comes less than a year after the Charlotte-based producer acquired a steel-racking maker to boost its footprint in the booming warehousing industry.

“Acquiring C.H.I. allows Nucor to further enhance its already diverse range of businesses that provide end market solutions to the construction and infrastructure markets,” Nucor Chief Executive Leon Topalian said in a statement on Monday. “Acquiring C.H.I. is another step in our long-term strategy to expand into areas that are a natural extension of our business.”

After a historic rally in 2021 left American steelmakers with their fattest profits ever, Nucor has focused its expansion efforts on more lucrative, finished products that give it more exposure further down the steel supply chain. With its recent selection of West Virginia for a new $2.7 billion sheet mill,  it also continues to build out its traditional steelmaking footprint.

The acquisition is Nucor’s largest, according to data compiled by Bloomberg. Shares of the company dropped 0.6% to $123 at 8:47 a.m. before the start of regular trading in New York. Moelis & Co. served as financial adviser to Nucor.

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