Fortune Brands Innovations To Sell Fiberon Decking Business To Inteplast For $160M; Expects Additional Impairment Charge Of Up To $205M

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.