Fortune Brands To Spin Off Cabinets Business

Fortune Brands Home & Security, Inc. wants to separate into two companies. It plans to spin off its cabinets business into a standalone publicly traded company. A potential separation is subject to board approval and other customary conditions and is expected to take approximately 12 months to complete. “I believe that this separation will enable each company to recognize its full potential and unlock even greater long-term stakeholder value,” says Nicholas Fink, chief executive officer, Fortune Brands. “Each company will pursue independent paths with fit-for-purpose strategies supported by thoughtful investments. Our entire company has delivered exceptional results over the past 10 years and our cabinets business has implemented the capabilities and demonstrated the performance required to thrive as an independent entity.”