Fortune Brands completed its spin off into The New Fortune Brands and MasterBrand in a $7.6bn deal.

Fortune Brands Home & Security, a manufacturer of security equipment, completed its spin off into The New Fortune Brands and its cabinets business MasterBrand in a $7.6bn deal. “Since we announced the intent to separate, our teams have been hard at work ensuring that both Fortune Brands and MasterBrand are prepared for future success and growth opportunities. I am proud today to say that we have successfully met that goal. I’m so impressed with what our teams have accomplished and excited for the future of both these companies, as this separation represents a catalyst to pursue our unique paths for growth and create increased value for consumers, customers and shareholders," Nicholas Fink, Fortune Brands CEO.