Fortune Brands Acquires SpringWell For ~$105M; Increases Presence In High-Growth Water Filtration Market And Further Expands Whole Home Water Offering
Portfolio Pulse from Happy Mohamed
Fortune Brands Innovations, Inc. (NYSE:FBIN) has acquired SpringWell Water Filtration Systems for approximately $105 million, enhancing its presence in the high-growth water filtration market. This acquisition is expected to provide Fortune Brands with increased strategic exposure to recurring revenue streams and digital marketing expertise, contributing to its whole home water ecosystem. SpringWell has shown significant growth since its inception, with a double-digit five-year CAGR, and is anticipated to deliver accretive EBITDA margins to Fortune Brands.
February 29, 2024 | 9:27 pm
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Fortune Brands' acquisition of SpringWell Water Filtration Systems for ~$105M positions it for growth in the water filtration market, with expected accretive EBITDA margins and enhanced digital marketing capabilities.
The acquisition of SpringWell by Fortune Brands is directly aimed at expanding its presence in the high-growth water filtration market, a strategic move that is likely to enhance its product offerings and revenue streams. The mention of accretive EBITDA margins and the significant growth trajectory of SpringWell since its founding indicate a positive financial impact. The acquisition also complements Fortune Brands' existing digital capabilities, suggesting a synergistic effect that could further drive growth.
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