Fortune Brands Innovations Initiates Strategic Review of Fiberon to Sharpen Portfolio Focus
Fortune Brands Innovations, Inc. (NYSE:FBIN), an industry-leading home, security and digital products company whose purpose is to elevate every life by transforming spaces into havens, today announced that in collaboration with the Board of Directors, management has initiated a formal strategic review of its Fiberon composite decking business.
The review reflects Fortune Brands' ongoing commitment to active portfolio management and capital allocation discipline and is intended to ensure the Company's resources are concentrated in its highest-return opportunities. The process will explore a range of strategic alternatives while Fiberon continues to execute against its near-term commercial priorities and support and service customers.
"Fortune Brands is committed to maximizing shareholder value through disciplined portfolio management," said Fortune Brands Interim Chief Executive Officer David Barry. "While Fiberon is a strong brand with proven innovation credentials and well-established channel relationships, this strategic review supports our sharpened focus on our core platforms that drive profitable growth."
Fortune Brands has not established a definitive timetable for completion of the review, and there can be no assurance that this process will result in any transaction or other specific outcome. The Company does not intend to make further public comment on the review unless and until it determines that disclosure is required or appropriate.
About Fortune Brands Innovations
Fortune Brands Innovations, Inc. (NYSE:FBIN) is an industry-leading home, security and digital products company whose purpose is to elevate every life by transforming spaces into havens. The Company makes innovative products for residential and commercial environments, with a growing focus on digital solutions and products that add luxury, contribute to safety and enhance sustainability. The Company's trusted brands include Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, Master Lock, Sentry Safe and Yale residential. Learn more at www.fbin.com.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations for our business, operations, financial performance or financial condition in addition to statements regarding our strategic review of the Fiberon business and potential outcomes of the review and other matters that are not historical in nature. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "outlook," "positioned," "confident," "opportunity," "focus," "on track" and similar expressions or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on current expectations, estimates, assumptions and projections of our management about our industry, business and future financial results, available at the time this press release is issued. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements, including but not limited to: (i) whether the objectives of the strategic review will be achieved; (ii) the terms, structure, benefits, costs and expenses of any transaction that may result from the strategic review; (iii) the timing of any such transaction and whether any such transaction will be consummated at all; (iv) the risk that the strategic review and its announcement could have an adverse effect on relationships with our customers, suppliers, employees or shareholders, or our operating results and business generally; (v) the risk that the strategic review could divert the attention and time of the Company's management; (vi) our reliance on the North American and Chinese home improvement, repair and remodel and new home construction activity levels, (vii) the housing market, downward changes in the general economy, unfavorable interest rates or other business conditions, (viii) the competitive nature of consumer and trade brand businesses, (ix) our ability to execute on our strategic plans and the effectiveness of our strategies in the face of business competition, (x) our reliance on key customers and suppliers, including wholesale distributors and dealers and retailers, (xi) risks associated with our recent leadership changes and our search process to identify our next CEO and CFO, (xii) risks associated with strategic acquisitions, divestitures and joint ventures, including difficulties integrating acquired companies and the inability to achieve the expected financial results and benefits of transactions, (xiii) impairments in the carrying value of goodwill or other acquired intangible assets, and (xiv) potential liabilities and costs from claims and litigation. These and other factors are discussed in Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 27, 2025. We undertake no obligation to, and expressly disclaim any such obligation to, update or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or changes to future results over time or otherwise, except as required by law.
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INVESTOR CONTACT:
Curt Worthington
Investor.Questions@fbin.com