Fortune Brands plans a tax-free spin-off to shareholders of the home and security business into an independent, publicly traded company.

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.

Links

• Moen