Several major private equity firms are mulling to acquire Illinois-based Fortune Brands’ home products unit, Reuters reports. The move comes after the company planned to spin off its $3 billion division, Fortune Brands Home & Security.
Firms including Blackstone Group and Bain Capital may either make offers for the entire unit or acquire a stake in the business as part of the planned spin-off. Fortune Brands is being advised by Credit Suisse and Centerview Partners on the break-up. The company has hired Morgan Stanley to run an auction for its golf division, adds Bloomberg.
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