Fortune Brands has spun off the closet business into a separate public company

Fortune Brands spun off the cabinet business into a separate public company, MasterBrand. Fortune Brands shareholders received one share of the spun-off company for each of their companies. Fortune Brands also changed its name to Fortune Brands Innovations to reflect the company's focus on accelerating growth in its categories through brands and innovation. And the company ticker has been changed from FBHS to FBIN.