DEERFIELD, Ill. - Fortune Brands Home & Security, parent company of MasterBrand Cabinets, celebrated its five-year anniversary as an independent company.
“We are proud of our accomplishments during this short period of time. We laid the foundation for core growth by building a stronger business model, and deployed capital in value-creating ways to drive incremental growth,” said Chris Klein, chief executive officer, Fortune Brands. “Our combined efforts have positioned the business well for future growth and performance, while delivering consistently strong results.”
Over the last five years, Fortune Brands built upon its structural competitive advantages and leading market share positions, created stronger operating capabilities and platforms, invested in capacity and productivity, strengthened its management team, and drove new products and programs in more profitable channels.
The company also grew incrementally by deploying $1.4 billion in cash to complete several strategic acquisitions, including WoodCrafters cabinets, Norcraft cabinets, SentrySafe security products and Riobel, ROHL and Perrin & Rowe plumbing products. It also repurchased more than $900 million in shares, in addition to initiating and steadily increasing its dividend.
During this same period of time the company nearly doubled sales, more than doubled its operating margin and increased EPS nearly five-fold.
“While our track record over the last five years has been impressive, our most critical achievement is the foundation we have built for our company, which will enable us to capture even greater opportunities ahead,” said Klein.
Fortune Brands, headquartered in Deerfield, Illinois, has four operating segments Cabinets, Plumbing, Doors and Security. Its brands include more than a dozen core brands under MasterBrand Cabinets; Moen, ROHL and Riobel under the Global Plumbing Group (GPG); Therma-Tru entry door systems; and Master Lock and SentrySafe security products under The Master Lock Company.
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