Fortune Brands Announces Agreement To Acquire Emtek And Schaub Premium Residential Hardware Brands And The U.S. And Canadian Yale And August Residential Smart Lock Brands From Assa Abloy
Acquiring Company
Fortune Brands Innovations
Acquired Company
Emtek
Deerfield
SingaporeNew Haven
GuelphSan FranciscoManufacturingSecurityRetailManufacturingEnergyHardwareRenewable EnergySolarOtherDescription
Fortune Brands Home & Security, Inc. (“FBHS,” “Fortune Brands” or the “Company”), an industry-leading home and security products company, today announced it has entered into a definitive agreement to acquire the Emtek and Schaub premium and luxury door and cabinet hardware business and the U.S. and Canadian Yale and August residential smart home locks business (collectively the “Business”) from ASSA ABLOY, Inc. (a subsidiary of ASSA ABLOY AB), for a purchase price of $800 million, or approximately $700 million net of tax benefits, in cash on a cash-free, debt-free basis, subject to customary adjustments (collectively, the “Acquisition”).
Quick answer
Fortune Brands Innovations is acquiring Emtek, Schaub and Yale University, announced December 2, 2022. Fortune Brands Innovations is based in Deerfield, Illinois, United States.
- How much did Fortune Brands Innovations pay for Emtek?
- The deal value was not disclosed.
- What does Fortune Brands Innovations do?
- Fortune Brands Innovations, Inc. (NYSE: FBIN), is an industry-leading innovation company focused on creating smarter, safer and more beautiful homes and improving lives.
- Where are Fortune Brands Innovations and Emtek based?
- Fortune Brands Innovations is based in Deerfield, Illinois, United States. Emtek is based in Singapore.
Source: Fundz verified event record.
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Frequently asked
Who acquired Emtek?
Emtek was acquired by Fortune Brands Innovations, based in Deerfield. The deal was reported on December 2, 2022. Fortune Brands Innovations, Inc. (NYSE: FBIN), is an industry-leading innovation company focused on creating smarter, safer and more beautiful homes and improving lives. Fortune Brands Innovations is publicly traded (FBIN) and operates in Manufacturing.
When did Fortune Brands Innovations acquire Emtek?
Fortune Brands Innovations's acquisition of Emtek was reported on December 2, 2022. Fortune Brands Home & Security, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Emtek do?
Emtek Products, Inc. was founded in 1981 as a decorative door hardware manufacturer & is a leader in lock security & door opening solutions bringing style to any home. It is privately held, and is based in Singapore.
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