Fortune Brands expands outdoor living offerings through Solar Innovations acquisition
Fortune Brands Home & Security, Inc. announced in 2022 that it acquired Solar Innovations, LLC, a leading producer of wide-opening exterior door systems and outdoor enclosures. Solar Innovations will be a part of Fortune Brands’ Outdoors & Security segment and support the company’s outdoor living strategy. Solar Innovations is based in Pine Grove, Pennsylvania and has about 30 registered patents. The acquisition was completed on January 31, 2022 for $63.0 million.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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