In a $925 million transaction last November, Fortune Brands purchased Therma-Tru, a leading manufacturer of residential entry doors.
Fortune was apparently lured by Therma-Tru's $400 million-plus in annual sales, as well as the opportunity to enter a new market. "Entry doors add significant value to the home and are among the highest-return improvements homeowners can make," Fortune Brands chairman and CEO Norm Wesley said in a press release.
The Therma Tru brand will become part of Fortune's $3 billion "Home & Hardware" business, joining Moen, MasterBrand Cabinets, Master Lock, and tool storage product manufacturer Waterloo Industries.
