Fortune Brands Acquires Stake in Value Hybrid for Connected Safety Solutions

Fortune Brands Innovations, Inc. (“Fortune Brands” or the “Company”), an industry-leading innovation company focused on creating smarter, safer and more beautiful homes and improving lives, today announced it has acquired a minority stake and entered into a strategic partnership with Value Hybrid Global, S.L. (“Value Hybrid”), a leading software and SaaS startup focused on the delivery of connected lockout tagout (“cLOTO”) solutions. This partnership will expedite Master Lock’s ability to bring to market new and innovative products in the emerging field of cLOTO, and expand its presence in commercial safety solutions.

Fortune Brands Chief Executive Officer Nicholas Fink said, “Connected lockout tagout is a significant opportunity for Fortune Brands. It is an attractive, emerging field that we are well positioned to lead in, given our highly recognized Master Lock brand, lockout tagout expertise, channel strength and commitment to invest in our highest-growth opportunities, which includes our expanding portfolio of connected products. We are excited to be partnering with Value Hybrid and bringing to market a best-in-class connected solution that will help to increase safety, improve efficiency, and enhance compliance, which impacts millions of people across the globe.”

Fortune Brands and Value Hybrid are uniquely situated to transform workplaces from mechanical to connected LOTO and expand the market for these solutions worldwide.

“We are pleased to be partnering with such a respected brand as Master Lock. This partnership enables us to tap into Master Lock’s deep experience in LOTO solutions, in addition to their capabilities and established global customer base,” said Value Hybrid Managing Director Alfredo de la Fuente. “We are looking forward to how we can bring our software and capabilities together to produce comprehensive cLOTO solutions that will help accelerate the digitization of critical safety processes and procedures.”

LOTO solutions can improve worker safety by helping to prevent potentially dangerous equipment from releasing hazardous energy while employees are working with machinery. LOTO compliance is a common workplace challenge; in the U.S. alone, LOTO was the 6th most frequently cited violation following inspections of worksites by federal OSHA officials for all industries in 2023*, with millions of dollars in LOTO-related fines assessed on an annual basis.

Fortune Brands believes there is a significant and growing long-term opportunity in the U.S. and around the globe as companies seek to automate and provide real-time tracking of processes and procedures that will improve safety in the work environment and make it more secure in the future. Master Lock is well-positioned as customers become ever-more safety focused and seek an effective migration path from more traditional, mechanical solutions to cLOTO solutions.

Value Hybrid was founded in 2020 and is based in Madrid, Spain. Fortune Brands has taken a minority ownership stake in Value Hybrid in support of the strategic partnership and to accelerate the growth of the business. Master Lock will have exclusive rights in North America, the largest global market for LOTO, to market a customized, Master Lock branded cLOTO software solution integrated with its connected padlock hardware. Master Lock will also have non-exclusive rights to sell its solution in all markets outside of North America. Master Lock will work with Value Hybrid to implement a comprehensive roadmap of innovative cLOTO features and functionality to address the needs of its commercial safety customers worldwide.

*According to OSHA

About Fortune Brands Innovations

Fortune Brands Innovations, Inc. (NYSE: FBIN), headquartered in Deerfield, Ill., is a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. The Company’s growing portfolio of brands includes Moen, House of Rohl, Aqualisa, Emtek, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe, Yale residential and August. To learn more about FBIN, its brands and environmental, social and governance (ESG) commitments, visit www.FBIN.com.

Contact:

Leigh Avsec – Media Contact – Investor.Questions@fbhs.com – (847) 484-4211

Source: Fortune Brands Innovations, Inc.