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Fortune Brands Home & Security To Buy LARSON Manufacturing For About $660 Mln

Fortune Brands Home & Security Inc. (FBHS) said that it agreed to acquire LARSON Manufacturing, the North American market leading brand of storm, screen and security doors, for a price, net of tax benefits, of about $660 million.

LARSON also sells related outdoor living products including retractable screens and porch windows.

The transaction is immediately accretive and expected to add between $0.14 to $0.20 to 2021 earnings per share, net of interest expense and purchase price amortization.

Fortune Brands also said it is renaming its Doors & Security segment to "Outdoors & Security."

LARSON will join Fortune Brands' newly named Outdoors & Security segment upon closing. The closing of the transaction is expected to occur within the next 30 days.

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