Fortune Brands completes separation of MasterBrand

DEERFIELD - Fortune Brands Innovations, Inc., an industry-leading home, security and commercial building products company, announced it successfully completed the previously announced spinoff of its cabinets business, MasterBrand, Inc., creating two independent, publicly traded companies. In addition, the company's previously announced name change to Fortune Brands Innovations, Inc. and stock ticker change to FBIN became effective.

"Since we announced the intent to separate, our teams have been hard at work ensuring that both Fortune Brands and MasterBrand are prepared for future success and growth opportunities. I am proud today to say that we have successfully met that goal," said Fortune Brands Chief Executive Officer Nicholas Fink. "I'm so impressed with what our teams have accomplished and excited for the future of both these companies, as this separation represents a catalyst to pursue our unique paths for growth and create increased value for consumers, customers and shareholders."

Underpinned by leading brands, Fortune Brands operates in the three high-growth categories of water, outdoors and security, powered by secular tail winds including water management, connected products, outdoor living, material conversion, sustainability, safety and wellness.