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