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Home improvement project



 

Home improvement project

Home improvement project
News from The Newark Advocate:

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Related News:

Stanley Black & Decker Sells Home Improvement Business for $ 1.4B
News from Fox Business:

Stanley Black & Decker (SWK) agreed to sell its hardware and home improvement group on Tuesday to Spectrum Brands (SPB) for $ 1.4 billion in cash as part of an effort to shed less profitable businesses outside of its core strategy.

The move is an effort by Stanley Black & Decker to strengthen its position as a diversified industrial company while maintaining the assets necessary to benefit from a potential housing market recovery through its $ 5 billion commercial and do-it-yourself business.

“While HHI is a healthy and profitable business, its characteristics are inconsistent with Stanley Black & Decker’s strategic objectives of diversifying our revenue base through further expansion into targeted end markets with higher growth and margin profiles,” CEO John Lundgren said in a statement.

The business, which has 90% of its operations in North America, recorded revenue last year of $ 940 million, with 50% derived from U.S. home centers. It provides residential locksets, builder’s hardware and plumbing fixtures under various brands.

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