Opening the filing
8-K
Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.06. Material Impairments.
As previously disclosed, as of June 27, 2026, Fortune Brands Innovations, Inc. (the “Company”) performed a recoverability test of the Company’s Fiberon asset group within the Outdoors segment under Accounting Standard Codification 360 – Property, Plant and Equipment , triggered by the advancement of the Company’s previously announced strategic review of the Fiberon business. As a result, the Company recorded a long-lived asset impairment of $221.2 million as of June 27, 2026, measured by the amount of carrying value that exceeded the estimated fair value. The impairment charge reduced the carrying value of the Fiberon customer relationship intangible asset and property and equipment in the amounts of $71.3 million and $149.9 million, respectively, and was included within Asset impairment charges in the Company’s condensed consolidated statements of comprehensive income within the Outdoors segment for the fiscal period ended June 27, 2026.
On October 15, 2026, the Company determined that an additional material charge for impairment of the Fiberon asset group is required under U.S. generally accepted accounting principles as a result of the execution of a definitive purchase agreement on October 15, 2026 with a subsidiary of Inteplast Group Corporation, which provides for the sale of the Fiberon business for $160 million in cash subject to the terms and conditions thereof (the “Fiberon Purchase Agreement”). As of the date of this Current Report on Form 8-K, the Company expects an additional non-cash impairment charge estimated in the range of approximately $175 million to $205 million relating to the Fiberon business.
Certain of the statements in this Current Report on Form 8-K, including statements regarding anticipated impairment charges, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company uses words and phrases such as “expects,” “will,” “anticipated”, “estimated” and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements herein, including the amount and nature of the estimated impairment charges and related impacts to the Company’s financial statements, are based on information available to the Company as of the date of this Current Report on Form 8-K, and the Company assumes no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the risk factors described from time to time in the reports, including the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, that the Company files with the U.S. Securities and Exchange Commission.
Item 7.01. Regulation FD Disclosure.
On October 15, 2026, the Company announced the execution of the Fiberon Purchase Agreement. A copy of the press release is furnished as Exhibit 99.1 hereto.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1
Fortune Brands Innovations Announces Agreement to Sell Fiberon DEERFIELD, Ill – October 15, 2026 -- Fortune Brands Innovations, Inc. (NYSE: FBIN) (“Fortune Brands” or the “Company”), an industry-leading home, security and digital products company, today announced it has executed a definitive agreement to sell its Fiberon composite decking business to a subsidiary of Inteplast Group Corporation.
The potential transaction is the result of a comprehensive sales process Fortune Brands initiated in connection with the strategic review of its Fiberon decking business. The decision to sell Fiberon underscores Fortune Brands' ongoing commitment to active portfolio management and capital allocation discipline and is intended to ensure the Company's resources are concentrated in its highest-return opportunities.
The closing of the transaction is subject to regulatory approval and is expected to occur within 60 days.
Jefferies LLC is serving as Fortune Brands’ exclusive financial advisor, and Sidley Austin LLP is serving as the Company’s legal advisor.
About Fortune Brands Innovations Fortune Brands Innovations, Inc. (NYSE: FBIN) is an industry-leading home, security and digital products company. The Company makes innovative, reliable products that contribute to safety, enhance sustainability and provide luxury for residential and commercial customers. The Company’s trusted brands include Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, Master Lock, Sentry Safe and Yale residential. Learn more at www.fbin.com .