USA – Fortune Brands announced that it has completed its previously announced spin-off of the Cabinets business creating two independent, publicly traded companies.

“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 opportunity. I am proud today to say that we have successfully met that goal,” said Fortune Brands Chief Executive Officer Nicholas Fink. “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.”

Shortly after the separation of MasterBrand, Inc. Fortune Brands changed its name to Fortune Brands Innovations, Inc., reflecting the Company’s focus on driving accelerated growth in its categories through brands and innovation.

Currently, under the MasterBrand Cabinets name, the Jasper, Ind.-based company had USD 2.9 billion in 2021 sales and 11,000 employees. It ranked third on the FDMC 300 list of the top North American wood processing related firms.