Source: The Master Lock Company
MILWAUKEE, Wis., July 30, 2014 – The Master Lock Company (TMLC) announced today it has made a strategic acquisition of Sentry Safe, the leading producer of personal safes and protective security containers. The combined companies bring incremental growth opportunities that will allow TMLC to leverage a global network and enter new segments, add meaningful scale to its existing operations and gain innovation and channel expansion opportunities.
“Sentry Safe’s strength in complementary product categories enable The Master Lock Company to leverage strong iconic brands domestically and internationally,” said Terry Horan, president, TMLC. “We are excited about the growth opportunities we will now have together to drive innovation and leverage global distribution and manufacturing capabilities.”
The Master Lock Company and Sentry Safe have leadership positions in their markets and strong consumer brand awareness. Sentry Safe is headquartered in Rochester, New York with manufacturing facilities there and in Cannelton, Indiana. The addition of Sentry Safe will provide annual revenue of approximately $150 million.
“Both companies are a natural fit and each represent the strongest brands in their respective consumer categories-- with a rich heritage and combined history of more than 175 years,” said Horan. “We are pleased to add Sentry Safe to our portfolio of brands.”
About The Master Lock Company (TMLC)
The Master Lock Company LLC is recognized around the world as the authentic, enduring name in padlocks, security and organization products. The Master Lock Company offers a broad range of innovative security, safety, and secure storage and organization solutions for consumer, commercial, and industrial end users. Master Lock Company LLC is an operating unit of Fortune Brands Home & Security, Inc., a leading consumer brands company. Headquartered in Deerfield, Ill., Fortune Brands Home & Security, Inc. (NYSE: FBHS) is included in the S&P MidCap 400 Index. For more information about Master Lock, visit www.masterlock.com.
About Sentry Safe
Founded in 1930, Sentry Safe is the world leader in offering fire-resistant and security storage solutions for important documents and valuables. A global presence, Sentry Safe produces more fire-resistant chests, files, safes and security storage containers than any other company in the world. The family-owned company's manufacturing headquarters is in Rochester, New York, and sales operations exist in the U.S., Canada, Japan and the U.K., distributing products to more than 54 countries worldwide. For more information, visit.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This release contains certain “forward-looking statements” regarding the effects of the Sentry Safe acquisition. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements including the factors discussed in Item 1A of the Fortune Brands Home & Security, Inc. Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission. The forward-looking statements included in this release are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date hereof.