Posts Tagged ‘ Spectrum Brands ’

Fourth-Quarter Results Show Assa and Fortune Acquisitions Bode Well

Feb 15th, 2024

Fortune Brands Innovations (Therma-Tru, Solar Innovations, Larson, Yale, August) and Assa Abloy (Caldwell, Interlock) released fourth-quarter financial results in recent weeks, showing positive results from the U.S. market for smart locks. Results follow an exchange between the two companies, in which Assa Abloy divested its Yale brand to Fortune in June 2023. Net sales for […]

Assa Abloy Completes Acquisition of HHI, Dealing Yale and August to Fortune Brands

Jun 21st, 2023

Assa Abloy announced yesterday it completed the acquisition of Spectrum Brands’ Hardware and Home Improvement division (HHI) and the divestment of its U.S.- and Canada-based Emtek and Smart Residential business to Fortune Brands Innovation Inc. HHI was consolidated into Assa Abloy as of June 20, officials said, for the total consideration of $4.3 billion USD […]

Assa Abloy Completes Acquisition of HHI

Jun 20th, 2023

Assa Abloy announced today it has completed the acquisition of Spectrum Brands’ Hardware and Home Improvement division (HHI) and the divestment of its U.S.- and Canada-based Emtek and Smart Residential business to Fortune Brands. HHI was consolidated into Assa Abloy as of today, officials said, for the total consideration of $4.3 billion USD on a […]

ASSA ABLOY Receives Clearance from Mexico for the Acquisition of HHI

Jun 7th, 2023

ASSA ABLOY announced that it received clearance from the Mexican competition authority to acquire Spectrum Brands’ Hardware and Home Improvement division. Following the clearance from the Mexican competition authority, the HHI acquisition remains subject to customary closing conditions. In September 2021, ASSA ABLOY announced it had signed an agreement to acquire the HHI division of […]

Assa Abloy Reports ‘Very Strong Start’ to 2023 Amid Court Dealings

Apr 26th, 2023

Assa Abloy’s acquisitions during the first fiscal quarter of 2023 and organic sales growth of 8% are among the factors prompting president and CEO Nico Delvaux to suggest the company has seen a “very strong start to 2023.” The positive report comes amid a challenging week, as the company faces a bench trial, seeking to […]

ASSA ABLOY, US Head to Trial over HHI Acquisition

Apr 20th, 2023

ASSA ABLOY and the United States have yet to come to terms with respect to the latter’s lawsuit attempting to block the company’s acquisition of the HHI division of Spectrum Brands. After more than six months of deliberations, a D.C. District Court has scheduled the matter for a bench trial next week. ASSA ABLOY’s agreement […]

Law Professors Weigh In on ASSA ABLOY Acquisition

Jan 19th, 2023

A collection of law professors from around the United States have weighed in on ASSA ABLOY’s $4.3 billion acquisition of the Hardware and Home Improvement (HHI) division of Spectrum Brands. In their amicus brief, filed in U.S. District Court for the District of Columbia, the professors argue that ASSA ABLOY must show that its proposed […]

ASSA ABLOY Sells Emtek, Smart Residential Business in US and Canada

Dec 2nd, 2022

ASSA ABLOY says it has entered into binding agreements with Fortune Brands Home & Security Inc. to sell Emtek and the Smart Residential business in the U.S. and Canada. The transaction is ASSA ABLOY’s bid to fully resolve alleged competitive concerns surrounding its proposed acquisition of the Hardware and Home Improvement (HHI) division of Spectrum […]

ASSA ABLOY to Acquire Hardware and Home Improvement Division of Spectrum Brands

Sep 9th, 2021

ASSA ABLOY recently announced that it has signed a definitive agreement to acquire the Hardware and Home Improvement (HHI) division of Spectrum Brands for a purchase price of MUSD 4,300 on a cash and debt-free basis. Spectrum Brands’ Hardware and Home Improvement division provides security, plumbing, and builders’ hardware products to the North American residential […]