Fortune Brands Home & Security Inc. said Wednesday it has agreed to sell its Simonton Windows business to building products maker Ply Gem Holdings Inc. for about $130 million.
The deal is expected to close in October.
Deerfield-based Fortune Brands, which makes Master Lock padlocks, Kemper kitchen cabinets and Moen water faucets, said it is selling its window business to focus on its Therma-Tru door business and Fypon home trim business.
The company expects the sale of Simonton to cut its earnings per share during the second half of 2014 between 2 cents and 4 cents.
Ply Gem, which is based in Cary, North Carolina, said it is buying Simonton to help it grow its windows division and plans to operate the company as a stand-alone business.
Simonton is based in Columbus, Ohio and also has manufacturing facilities in West Virginia, Illinois and California.
THE ASSOCIATED PRESS
