Moen To Break Away From Fortune Brands
Fortune Brands will separate the company’s three strong consumer businesses - distilled spirits, home and security (which includes Moen), and golf products. The plan that the company intends to pursue includes:
- The continuation of Fortune Brands as an independent, publicly traded company focused solely on its distilled spirits business;
- The tax-free spin-off to shareholders of the home and security business into an independent, publicly traded company; and
- The sale or tax-free spin-off of the golf business.
The company expects to complete development of detailed separation plans - including the structure and timing - within the next several months.