DivestmentOct 15, 2026, 04:21 PM
Fortune Brands to Sell Fiberon for $160M, Expects Additional $205M Impairment
AI Summary
Fortune Brands Innovations, Inc. announced the execution of a definitive agreement to sell its Fiberon composite decking business to a subsidiary of Inteplast Group Corporation for $160 million in cash. This divestment is part of the company's strategic review and commitment to active portfolio management. The sale is expected to result in an additional non-cash impairment charge estimated between $175 million and $205 million, on top of a previous $221.2 million impairment charge recorded in June 2026. The transaction is subject to regulatory approval and is anticipated to close within 60 days.
Key Highlights
- Fortune Brands Innovations to sell its Fiberon composite decking business to Inteplast Group.
- The sale is expected to result in an additional non-cash impairment charge of $175 million to $205 million.
- A prior impairment charge of $221.2 million was recorded as of June 27, 2026.
- The Fiberon business is being sold for $160 million in cash.
- The transaction is subject to regulatory approval and is expected to close within 60 days.
Price Impact
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