Fortune Brands acquires Larson
Fortune Brands Home & Security, Inc. has completed the acquisition of Larson Manufacturing.
Larson produces storm, screen, and security doors. The company is now part of Fortune Brands’ Outdoors & Security segment.
The acquisition price is about $660 million, which was funded with cash on hand and borrowings under Fortune’s revolving credit facility.
With revenues of approximately $390 million, Larson has nearly 1,200 associates and is headquartered in Brookings, S.D., with additional manufacturing operations in Lake Mills, Iowa, Mocksville, N.C.; and Senatobia, Miss. along with distribution centers in Albert Lea, Minn. and Mocksville, N.C.
Fortune said that it expects the Larson management team, associates, and locations to remain in place.
Fortune Brands Home & Security, Inc., headquartered in Deerfield, Ill. includes the Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert, and Rohl plumbing brands under its Global Plumbing Group (GPG).
The manufacturer also operates more than a dozen core brands including MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon composite decking, and Master Lock and SentrySafe security products.