$FBHS Small Acquisition
Today Fortune Brands and Home Security announced its intent to acquire Aqualisa for $160m in cash. While somewhat of a small acquisition it is in an effort to the presence of $FBHS in the UK.

The "Smart Shower" manufacturer makes a variety of temperature-controlled shower products from Shower heads to faucet taps all controlled through an app on a user's phone.

This comes a few months after $FBHS announced it would spin off its cabinets business to focus on building out the RemainCo businesses. The smallest of which is the Water Innovations segment. So overall nice to see.

Interesting concept in "smart" showers. I'm not familiar. Is the idea that you can start your shower on your iPhone while lying in bed or something? With my luck the shower head would be aimed the wrong way and I'd end up mopping the floor tile! 🚿
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$FBHS Spinoff
Fortune Brands and Security is looking to split itself in two. The "House of Brands" operates some of the most recognizable companies in the world.

In terms of "Water Innovations," there are some stellar brands.

Not only "Water" but also "Outdoor Security." This segment includes everything from doors to windows and well... MasterLock.

Finally the subject of our spinoff. The vast portfolio of cabinets accounts for roughly 28% of the company's total Net Sales.

Also, their brands rank #1 NA according to $FBHS and have a decent margin as well.

The official release. TL;DR is a Tax-Free spinoff of the cabinets business into its own standalone public company and it will take place in ~12 months.

I personally really like spinoffs as I think they create a lot of shareholder value over long periods of time. I will certainly be closely following the new cabinets business after the spinoff as it seems like a solid business
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I'm familiar with a lot of the brands here but didn't realize they were owned by $FBHS. I wonder if this company (or it's soon-to-be spinoff) track with and benefit from the same trends and macro factors that buoy a company like $TREX?
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