Fortune Brands celebrates its 10th anniversary
DEERFIELD, Illinois – (COMMERCIAL THREAD) – Fortune Brands Home & Security, Inc. (NYSE: FBHS), a leading home and security products company, today celebrates 10e anniversary of becoming a publicly traded company by announcing two key affordable housing initiatives to help the community as a whole realize their dreams of home.
“Since becoming an independent business ten years ago, our goal has been to make our dreams of a home come true,” said Nicholas Fink, CEO of Fortune Brands. “This goal is the driving force behind everything we do, and today on our 10e anniversary, I am very pleased to announce our participation in two initiatives that help make dreams of a home more attainable for families in our communities.
For its first initiative, Fortune Brands worked with Rebuilding Together – a national non-profit organization whose mission is to repair the homes of those in need – to create the Dreams of Home community revitalization project. The new project is launched with a $ 500,000 pledge from Fortune Brands to support critical home repairs for underserved neighbors in communities near many of its operations, including the Chicago metro area; northeastern Ohio; Rogue Valley, Oregon; and the greater Charlotte area, North Carolina.
“We are grateful for Fortune Brands’ commitment to safe homes and communities,” said Caroline Blakely, President and CEO of Rebuilding Together. “With their support, we will have a huge impact on the health and overall quality of life of neighbors. ”
The company’s second affordable housing initiative supports Habitat for Humanity in Lake County, Illinois. Thanks to a donation of $ 150,000 made this year, Fortune Brand is sponsoring the 5 houses for 5 families project. The contribution will fund the construction of a new house in the county where Fortune Brands is headquartered. This donation brings Fortune Brands’ total support to Habitat for Humanity to over $ 1 million since 2011.
A story of growth, value creation and innovation
Since the company split in 2011, its revenue has grown from $ 2.9 billion to $ 6.1 billion at the end of 2020 and has joined the S&P 500 and Fortune 500 indexes. Fortune Brands has consistently outperformed the market and increased dividend payouts. every year since the initial dividend launch in 2013.
From its starting point of around 14,000 associates, the Fortune Brands team now has 27,500 associates around the world. The company has expanded its total product portfolio and reach to consumers by growing organically and making ten key strategic acquisitions over the past ten years. Fortune Brands continues to leverage consumer insights to drive innovation and has accelerated its digital solutions, connected home and sustainable product offerings.
“We have been able to generate increasing growth and value creation over the years through our powerful portfolio model which leverages a wide range of consumer information to drive brand creation and branding. innovation, ”said Fink. “By combining these investments with our differentiated Fortune Brands Advantage capabilities, we believe we can accelerate value creation for the benefit of all of our stakeholders. At the center of our success are our employees, who live our values and drive our goal every day. ”
The advantage of Fortune brands
Fortune Brands’ operating model, culture and management direction have produced many benefits, ranging from leveraging market knowledge across the organization to creating manufacturing synergies. The Company’s strong balance sheet and cash flow have also enabled aggressive investments in its businesses to further strengthen them and keep them in a position for long-term growth.
The Fortune Brands Advantage is one such investment that contributes to continued long-term outperformance. The Fortune Brands Advantage is the company’s unifying business model focused on creating a common set of capabilities for category management, global supply chain excellence and complexity reduction. These capabilities are harnessed across the company to help fund investments in key growth initiatives such as brand building and product innovation, digital capabilities, and capacity and distribution expansion. The investment and deployment of Fortune Brands Advantage drives both incremental growth and margin expansion to ensure the company continually outperforms.
“Each brand in our organization is strong on its own, but bringing them together within Fortune Brands provides a strong network for each of them to leverage best practices, share housing market insights and provide expertise. “Said Fink. “This allows everyone to operate more effectively and efficiently, which leads to better products and better support for our customers. The Fortune Brands Advantage will help us drive our growth into the future.
On the occasion of the 10th anniversary of the Societye birthday, he launched a brand new website. The new site better represents the Company’s brands and teams, as well as its increased focus on environmental, social and governance (ESG) issues, including philanthropic efforts; sustainability initiatives; and diversity, equity and inclusion.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, Ill., 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, Plumbing, Exterior & Security & Cabinetry, Fortune Brands’ 27,500 associates work toward making home dreams come true.
The Company’s growing portfolio of complementary businesses and innovative brands includes Moen and Maison Rohl within the Global Plumbing Group; outdoor and safety products from Therma-Tru, LARSON, Fiberon, Master Lock and SentrySafe; and the extensive offerings of MasterBrand Cabinets 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.
Caution regarding forward-looking statements
This press release contains certain “forward-looking statements” regarding general business strategies, market potential, future financial performance, the potential of our brands and the housing market, and other matters. Statements preceded, followed or which otherwise include the words “believe”, “positioned”, “expect”, “consider”, “plan”, “consider”, “prospect”, “intend” and expressions similar or future or conditional verbs such as “will”, “should”, “would”, “may” and “could” are generally prospective in nature and not historical facts. When, in a forward-looking statement, we express an expectation or belief about future results or events, that 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 many factors, risks and uncertainties that could cause actual results and results to differ materially from those indicated in these statements. Important factors that could affect performance and cause results to differ materially from management’s expectations, or could affect the Company’s ability to achieve its strategic objectives, include uncertainties related to the impact of COVID-19 on the activities, operations and employees of the Company and other factors discussed in our securities filings, including in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission. The forward-looking statements included in this press release are made as of the date hereof, and except as required by law, we do not undertake to update, modify or clarify any forward-looking statements to reflect events, new information or changes. circumstances occurring after the date of this release.