- Fortune Brands says it will spin off its $3 billion Home & Security unit, including MasterBrand Cabinets. With cabinetry lines including Aristokraft, DecorÃ¡,
Diamond, Omega and Kitchen Craft, MasterBrand Cabinet is the strong number two cabinet manufacturer
in North America, says Fortune. The company made the announcement in an SEC filing.
While its largest single brand is Moen, the number one faucet brand in North America, it also includes Therma-Tru doors and Simonton vinyl-framed windows, as well as Master Lock padlocks and Waterloo storage and organization products. other MasterBrand Cabinets lines include Capital Cabinets, Dynasty, Georgetown, HomeCrest, Kemper, Kitchen Classics, Maple Creek and Schrock. (MasterBrands president Greg Stone is featured in Wood & Wood Products Dec. 2010 "Market Leaders.")
| MasterBrand Cabinets locations span North America.
"Home & Security has enhanced its position by playing offense during the downturn and front end of the recovery," Fortune brands said in its filing. "The company has created lean and flexible supply chains by both reducing costs and accelerating productivity initiatives." Fortune brands says it has also made market share gains in the downturn. "With this momentum, combined with the companyâs supply-chain flexibility and efficient cost structures, Home & Security will have substantial leverage and upside growth and returns potential as the U.S. housing market recovers," Fortune Brands said in its filing.
Fortune Brands will also sell or spin off its $1.2 billion golf unit, which includes the Titleist brand; and focus the parent company on distilled spirits (Jim beam, Canadian Club, Effen, etc.). The board authorized plan will be subject shareholder and regulatory approvals.
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