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ASSA ABLOY completes acquisition of Spectrum’s hardware and home improvement division

ASSA ABLOY announced Tuesday it has finally completed the acquisition of Spectrum Brands’ Hardware and Home Improvement division (HHI) as well as the divestment of Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands.

The company faced several hurdles before it could go through with the acquisition, including a challenge from the U.S. Department of Justice, which was resolved in May. The deal was first announced in September 2021.

“HHI is an excellent addition to ASSA ABLOY, complementing our existing business in terms of product offering and geographic scope, and I am delighted to welcome HHI and all its employees to ASSA ABLOY,” said Nico Delvaux, president and CEO, ASSA ABLOY, in a statement. “I am also pleased that employees and customers of our divested businesses will be in good hands, and I wish them future success.”