Cabinetry Recovery Drives Fortune Brands Earnings

By Bill Esler | Posted: 07/29/2013 1:10PM

 

In June, Fortune completed the $300 million acquisition of WoodCrafters Home Products Holding DEERFIELD, IL - MasterBrand Kitchen & Bath Cabinetry net sales were up 13%, as the Fortune Brands Home & Security (NYSE: FBHS) cabinet segment benefited from the home building recovery.

Growth and share gains were driven across all parts of the cabinetry business, says FBHS, with new construction leading the momentum and semi-custom products benefiting as repair and remodel spending. before charges/gains of $35.3 million vs. $18.5 million last year.

Advanced Material Windows & Door Systems net sales were up double digits, as entry doors grew 15% percent, and "we began to see some positive signs in windows," says the firm. Operating income before charges/gains for the segment more than doubled to $10 million.

Feeling confident, Fortune Brands Home & Security also predicts growth from the recently closed WoodCrafters acquisition, and expects full-year 2013 net sales to increase 13 to 15 percent. Overall Fortune Brands report sales of $1.04 billion, up 11%.

In June, Fortune completed the $300 million acquisition of WoodCrafters Home Products Holding, LLC, a privately-owned manufacturer of bathroom vanities and tops with estimated annual sales of $230 million. WoodCrafters is now part of the Company's Kitchen & Bath Cabinetry segment.

 

About the Author

Bill Esler, Woodworking Network, WMS

Bill Esler

Bill Esler, Editorial Director, Woodworking Network Bill is responsible for overall content at WoodworkingNetwork.com Woodworking Network magazine, and related newsletters. Bill also manages event programs for Woodworking Network Live conferences at the Woodworking Machinery & Supplies Expo in Toronto and Cabinets & Closets Expo. He developing audience engagement programs using custom digital printing, live lead-generating events, custom websites, and custom digital and print content. Read Bill Esler's woodworking blogs. He can be reached at besler@woodworkingnetwork.com or follow him on Google+.

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