Fortune Brands Acquires Aqualisa; Expands Portfolio and Capabilities in Key Powerful Growth Categories of Water Management and Connected Products
August 01 2022 - 9:00AM
Business Wire
Fortune Brands Home & Security, Inc. (NYSE: FBHS, the
“Company”, or “Fortune Brands”), an industry-leading home and
security products company, today announced it has acquired Aqualisa
Holdings (International) Ltd. (“Aqualisa”). Aqualisa is a leading
U.K. manufacturer of shower products known for premium, innovative,
smart digital shower systems and exceptional customer care.
“Fortune Brands has long been a brand and innovation leader. As
we continue to evolve, we are proactively positioning our Company
for a future of increased brand and innovation strength and
accelerated growth,” said Nicholas Fink, chief executive officer,
Fortune Brands. “This exciting acquisition helps advance our key
strategic focus on the super-charged categories in water. As part
of our Fortune Brands Water Innovations business, Aqualisa will
enable us to continue to leverage powerful growth accelerants in
water management, connected products and global sustainability.
These categories present tremendous opportunities for our Company,
and Aqualisa’s portfolio of digital, premium showering products
will enhance our ability to capture that upside.”
Aqualisa, a recognized innovator with strength in digital shower
technologies, is also well-known for its premium product portfolio.
With the acquisition of Aqualisa, Water Innovations will have
access to an expanded shower product offering across price points,
technology and geographies, driving additional growth for the
combined business.
“The Aqualisa brands are a great complement to our portfolio of
smart water management offerings from Moen and our artisan products
from the House of Rohl. We believe by leveraging our complimentary
route-to-market capabilities and growing digital water platform, we
can continue innovating the future of water, expand sales in the
United States, U.K. and Europe, and enter new markets over time,”
said Fink.
Founded in 1976, Aqualisa Holdings (International) Ltd. is a
leading U.K.-based designer and manufacturer of smart and digital
shower products. The company is the leading digital shower brand in
the U.K. with a strong reputation for quality and innovation. The
company produces and distributes shower products primarily under
the Aqualisa brand. Aqualisa is headquartered in Westerham, U.K.,
with approximately 260 associates.
Fortune Brands completed the acquisition on July 29, 2022, for a
price of approximately $160 million, which represents roughly 8
times post-synergy EBITDA.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS),
headquartered in Deerfield, IL., is a Fortune 500 company, part of
the S&P 500 Index and a leader in the home products industry.
With trusted brands and market leadership positions in each of its
three operating segments, Water Innovations, Outdoors &
Security, and Cabinets, Fortune Brands’ 28,000 associates work with
a purpose to fulfill the dreams of home.
The Company’s growing portfolio of complementary businesses and
innovative brands includes Moen and the House of Rohl within Water
Innovations; outdoor living and security products from Therma-Tru,
LARSON, Fiberon, Master Lock and SentrySafe; and MasterBrand
Cabinets’ wide-ranging offerings from MANTRA, Diamond, Omega and
many more. Visit www.FBHS.com to learn more about FBHS, its brands
and how the Company is accelerating its environmental, social and
governance (ESG) commitments.
CAUTIONARY STATEMENT CONCERNING
FORWARD-LOOKING STATEMENTS
This press release contains certain “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 (the “Exchange Act”),
regarding general business strategies, product offerings, expansion
into new geographic markets, market potential, anticipated future
financial performance, the potential of our brands, and other
matters. Statements preceded by, followed by or that otherwise
include the words “believes”, “positioned”, “expects”, “estimates”,
“plans”, “look to”, “outlook”, “intend”, 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 the current plans and
expectations of our management. 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 general
business and economic conditions; our reliance on the North
American repair and remodel and new home construction activity
levels; our reliance on key customers and suppliers; our ability to
maintain our strong brands and to develop innovative products while
maintaining our competitive positions; our ability to improve
organizational productivity and global supply chain efficiency; our
ability to obtain raw materials and finished goods in a timely and
cost-effective manner; the impact of sustained inflation, including
global commodity and energy availability and price volatility; the
impact of trade-related tariffs and risks with uncertain trade
environments or changes in government and industry regulatory
standards; our ability to attract and retain qualified personnel
and other labor constraints; the uncertainties relating to the
impact of COVID-19 on the Company’s business and results; our
ability to achieve the anticipated benefits of our strategic
initiatives; our ability to successfully execute our acquisition
strategy and integrate businesses that we have and may acquire; and
the other factors discussed in our securities filings, including in
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2021, filed with the Securities and Exchange
Commission. The forward-looking statements included in this release
are made as of the date hereof, and except as required by law, we
undertake no obligation to update, amend or clarify any
forward-looking statements to reflect events, new information or
circumstances occurring after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220801005084/en/
INVESTOR CONTACT: Matthew Skelly 847-484-4573
Investor.Questions@fbhs.com
MEDIA CONTACT: Darwin Minnis 847-484-4204
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