Fortune Brands to Separate into Two World-Class, Publicly Traded Companies
On April 28, 2022, FBHS announced our intent to separate into two world-class publicly traded companies via a tax-free spin-off of the Cabinets business. Forming two distinct companies will help each to focus on their distinct strategies and core capabilities, as well as to invest in their unique best growth opportunities. The separation should accelerate both businesses’ ability to achieve their full potential, and unlock even greater long-term shareholder value.
Building on a strong foundation, Fortune Brands Innovations will be a proven brand, innovation and channel leader driving accelerated growth in super-charged home and security categories. Supported by the Fortune Brands Advantage capabilities and an aligned, agile and accountable team, Fortune Brands Innovations will deliver sustainable value creation for all of its stakeholders.
The new Cabinets company, MasterBrand, Inc., will continue to be the leading North American cabinets business, defined by operational excellence, channel strength and a winning multi-brand strategy that is focused on the most attractive parts of the market.
Frequently Asked Questions
We announced our intention to separate on April 28, 2022, in conjunction with our quarterly earnings results and our separation announcement presentation.
Fortune Brands has announced that the separation is expected to be complete on Wednesday, December 14, 2022, and will be achieved through the distribution of all outstanding shares of MasterBrand common stock to Fortune Brands common stockholders of record as of 5:00 PM, Central Time, on Friday, December 2, 2022. Learn more.
Forming two independent companies will help each to focus on their distinct strategies and core capabilities, and invest in their unique best growth opportunities. The plan we are pursuing should accelerate both businesses’ ability to achieve their full potential, and unlock even greater long-term shareholder value.
Nicholas Fink will continue to be CEO for Fortune Brands Innovations, Inc., ensuring that Fortune Brands is executing on its strategy and vision and delivering against its plans, and leading on the broader opportunities to create exceptional value for all stakeholders. See his bio.
Dave Banyard, the current Cabinets president, will be CEO for MasterBrand, Inc. Dave will continue to lead the business in delivering market-beating results with continued focus on complexity reduction and building a strong culture of continuous improvement. See his bio.
Fortune Brands’ Board of Directors has approved the separation of MasterBrand, Inc. The separation is expected to be complete on Wednesday, December 14, 2022. See more.
Additionally, the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by MasterBrand, Inc. The Form 10 includes information regarding MasterBrand’s business and strategy. It also includes a listing of MasterBrand’s Board members.
MasterBrand is developing the infrastructure required to be an independent, publicly traded company, which includes building on the current leadership team and adding key roles. As the Cabinets business prepares for the separation, it continues to make progress on its strategic transformation, which is leading to the business’ increased agility, resilience and growth potential.
Fortune Brands is also proactively taking steps which will better position us to realize the many opportunities to drive growth and margin progression at an accelerated pace. On September 6, 2022, we announced key organization and leadership changes to align the organization and drive accelerated growth and productivity. For more information, see the press release. The company will also be rebranding to Fortune Brands Innovations, Inc., following the separation of the Cabinets business. Fortune Brands Innovations, Inc., better reflects our evolution as a business focused on driving accelerated growth in our categories through brand and innovation. See more.
Please visit our Investor Day event site, investorday.fbhs.com, for more information.
Within the housing market, we see areas of outsized opportunity and growth that our Water Innovations, Outdoors and Security brands will be increasingly well-positioned to capture by leveraging our brand, innovation and channel leadership. These special areas of opportunity include: water management, outdoor living, material conversion and science, connected products and global sustainability.
Fortune Brands Investor Day: December 6, 2022
As the separation of Fortune Brands into two world-class, publicly traded companies nears, we held an Investor Day event. A recording of the live webcast is available at the Investor Day event site at investorday.fbhs.com.
Related Press Releases
December 1, 2022
Fortune Brands announces effectiveness of the Form 10 Registration Statement for MasterBrand; MasterBrand finalizes composition of Board of Directors
November 22, 2022
Fortune Brands Board of Directors approves the separation of MasterBrand, Inc. The separation is expected to be complete Wednesday, December 14
October 27, 2022
Company announces it is rebranding as Fortune Brands Innovations, Inc., effective following separation of Cabinets business
October 26, 2022
Fortune Brands announces separation into two world-class companies progressing well ahead of schedule
September 6, 2022
FBHS announces organization and leadership changes to align company and drive accelerated growth and productivity
August 1, 2022
FBHS acquires Aqualisa; expands in Fortune Brands growth categories of water management and connected products
Media & Investor Inquiries
We are excited for what the separation means for the future of both companies and our stakeholders! To get in touch with a member of our communications or investor relations team, please complete our Contact Us form.