ASSA ABLOY sells Emtek and the Wise Household company in the U.S. and Canada in furtherance of the proposed acquisition of the Components and Residence Advancement division

STOCKHOLM, Dec. 2, 2022 ASSA ABLOY has entered into binding agreements with Fortune Brand names Home & Safety, Inc. (NYSE: FBHS) or (“Fortune Brands”) for the sale of Emtek and the Smart Household business enterprise in the U.S. and Canada to absolutely take care of all the alleged competitive problems encompassing the proposed acquisition of the Components and Dwelling Improvement division (“HHI”) of Spectrum Makes.

On September 8, 2021, ASSA ABLOY declared it experienced signed an agreement to receive the HHI division of Spectrum Brand names (NYSE: SPB) for a obtain cost of MUSD 4,300 on a cash and debt absolutely free foundation. On September 15, 2022, the U.S. Section of Justice (“DOJ”) introduced that it will request to block the proposed acquisition of HHI.

ASSA ABLOY has entered into binding agreements with Fortune Brands for the sale of Emtek and the Clever Residential company in the U.S. and Canada to totally solve all the alleged aggressive concerns surrounding the proposed acquisition of HHI. Household businesses exterior of the U.S. and Canada are not in scope to be divested.

These companies represented profits of about MUSD 350 in 2021.The selling price for the divested business is MUSD 800 on a cash and financial debt free of charge foundation.

“With Fortune Makes our great US and Canadian residential businesses will get a very good and sturdy house with an professional operator. When keeping these household organizations in the US and Canada would have been favored, we are self-confident that we have now fully removed all competitive fears alleged by the DOJ and that the acquisition of HHI is in the extensive-expression fascination of our shareholders,” suggests Nico Delvaux, President and CEO of ASSA ABLOY.

The divestiture is dependent on the productive protection versus the DOJ concerning the prepared acquisition of HHI. ASSA ABLOY will continue to be thoroughly dedicated to these very well-performing enterprises all through the process and all the firms will carry on to work as usual.

Equally the proposed acquisition of HHI and the divestiture are expected to close for the duration of the 2nd quarter 2023 following the successful defense towards the DOJ.

For a lot more data, make sure you contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82

Erik Pieder, CFO and Government Vice President, tel. no: +46 8 506 485 72               

Björn Tibell, Head of Trader Relations, tel. no: +46 70 275 67 68, e-mail: [email protected]


The ASSA ABLOY Team is the world leader in obtain options. The Group operates worldwide with 51,000 staff and revenue of SEK 95 billion. The Team has foremost positions in regions this kind of as efficient doorway openings, dependable identities and entrance automation. ASSA ABLOY’s innovations permit safe and sound, secure and easy accessibility to physical and electronic locations. Each and every working day, we help billions of people today expertise a more open up world.

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