Larson Manufacturing of Brookings has been sold to an Illinois-based conglomerate, Fortune Brands & Home Security, Inc.
The price is approximately $660 million.
Larson manufactures and sells a variety of door and window products. They have about 1200 employees with headquarters and manufacturing in Brookings.
They also have plants in Lake Mills, Iowa, Mocksville, North Carolina and Senatobia, Mississippi. Larson also has central distribution centers in Albert Lea, Minnesota and Mocksville.
According to a press release, the company expects that the Larson management team, employees and locations will remain in place.
Larson is the leading brand in the U.S. storm door market.
Jeff Rief, CEO and President of Larson, says they are excited to join Fortune Brands. In a written statement, Rief says, “In Fortune Brands, we have found a company fully aligned with our commitment to employees, customers, product innovation and our values.” Our strong track record as a leader in storm doors and adjacent products with persistent innovations has allowed us to attract the best potential owner to help take us to the next level of growth. We’re excited about what the future holds being part of a larger company focused on leading brands.”
The statement also adds that for Dale Larson, the timing was right to simplify life for himself and the family.
The closing of the transaction is subject to regulatory approval and is expected to occur within the next 30 days.
November 17, 2020