DEERFIELD, IL — Fortune Brands Innovations, Inc., the Deerfield, IL-based home products, security and commercial building products supplier, has completed the acquisition of the Emtek and Schaub premium luxury door and cabinet hardware business, and the U.S. and Canadian Yale and August residential smart locks business, the company announced.
The acquisition from Swedish conglomerate ASSA ABLOY, for a net purchase price of $700 million, adds to Fortune Brands portfolio of brands, which also includes Moen, House of Rohl, Aqualisa, Emtek, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe, Yale and August.
“I am thrilled that Yale, Emtek, August and Schaub have now officially joined the Fortune Brands family,” said Fortune Brands Chief Executive Officer Nicholas Fink. “These world-class brands fit perfectly with our portfolio and will accelerate strategic initiatives across our organization.
“With this acquisition, we will increase Fortune Brands’ scale in connected products, drive innovation, and expand our offering in the luxury home products market,” Fink added.