Assa Abloy announced today it has completed the acquisition of Spectrum Brands’ Hardware and Home Improvement division (HHI) and the divestment of its U.S.- and Canada-based Emtek and Smart Residential business to Fortune Brands. HHI was consolidated into Assa Abloy as of today, officials said, for the total consideration of $4.3 billion USD on a cash and debt-free basis.
Look for additional details in tomorrow’s newsletter.