Fortune Brands completed the acquisition Emtek and Smart Residential business in US and Canada of ASSA ABLOY for $700m.

Fortune Brands, an industry-leading home and security products company, completed the acquisition Emtek and Smart Residential business in US and Canada of ASSA ABLOY, a Swedish conglomerate, for $700m. “This Acquisition is perfectly aligned to our strategy as a brand, innovation and channel leader. Yale and August will bring two great brands and significant engineering expertise into our already powerful security portfolio. Emtek and Schaub allow us to enter a branded, growing and highly profitable category in a leadership position, where we can accelerate innovation and leverage our channel and consumer insights to create significant value over time. This transaction is consistent with Fortune Brands’ disciplined approach to value-creating acquisitions,” Nicholas Fink Fortune Brands CEO.