NEW YORK (The Deal) -- Fortune Brands Home & Security (FBHS), the Deerfield, Ill.-based provider of home and security products, has acquired Sentry Safe for almost $118 million.

The transaction, which closed on Wednesday, will be financed from existing credit facilities.

Sentry Safe, a Rochester, N.Y.-based maker of personal safes with annual sales estimated to be about $150 million, will be a unit of Fortune Brands' Master Lock division.

"Sentry Safe's global brand strength in the adjacent personal safe market enables Master Lock to broaden its product offerings and leverage its iconic brand worldwide," said Chris Klein, Fortune Brands' chief executive, in a statement. "Both companies hold similar competitive advantages in their markets and produce products that protect people's most valuable assets. I am excited about the growth opportunities we will now have together to drive innovation, leverage global distribution and expand channels," he added.

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Fortune Brands Acquires Sentry Safe

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August 1, 2014 at 6:17 am by Mr HomeBuilder
Category: Home Security