DEERFIELD, Ill.--(BUSINESS WIRE)--Sep. 11, 2018--
Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading
home and security products company, today announced it completed the
acquisition of Fiberon, LLC, a leading manufacturer of outdoor
performance materials used in decking, railing and fencing products.
Fortune Brands announced an agreement to acquire Fiberon on August 23,
2018. Fiberon is now part of Fortune Brands’ Doors & Security segment.
The Company completed the acquisition for a purchase price of
approximately $470 million, which was funded with cash on hand and
borrowings under its revolving credit and term loan facilities. In 2017,
Fiberon had approximately $200 million in annual sales. Fiberon has
approximately 475 associates with offices and operations in Meridian,
Idaho and New London, North Carolina. Fortune Brands expects to maintain
Fiberon’s current operations and locations.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in
Deerfield, Ill., creates products and services that fulfill the dreams
of homeowners and help people feel more secure. The Company's operating
segments are Plumbing, Cabinets and Doors & Security. Its trusted brands
include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert
under the Global Plumbing Group (GPG); more than a dozen core brands
under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon
outdoor performance materials, and Master Lock and SentrySafe security
products. Fortune Brands holds market leadership positions in all of its
segments. Fortune Brands is part of the S&P 500 Index. For more
information, please visit www.FBHS.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180911005671/en/
Source: Fortune Brands Home & Security, Inc.
INVESTOR and MEDIA CONTACT:
Fortune Brands Home & Security, Inc.
Kaveh
Bakhtiari
847-484-4573
kaveh.bakhtiari@FBHS.com
