Fortune Brands acquires minority stake in Value Hybrid for cLOTO solutions

Fortune Brands Innovations announced it has acquired a minority stake and entered into a strategic partnership with Value Hybrid Globa, a software and SaaS startup focused on the delivery of connected lockout tagout or cLOTO solutions. This partnership will expedite Master Lock’s ability to bring to market new and innovative products in the emerging field of cLOTO, and expand its presence in commercial safety solutions. Fortune Brands Chief Executive Officer Nicholas Fink said, “Connected lockout tagout is a significant opportunity for Fortune Brands. It is an attractive, emerging field that we are well positioned to lead in, given our highly recognized Master Lock brand, lockout tagout expertise, channel strength and commitment to invest in our highest-growth opportunities, which includes our expanding portfolio of connected products. We are excited to be partnering with Value Hybrid and bringing to market a best-in-class connected solution that will help to increase safety, improve efficiency, and enhance compliance, which impacts millions of people across the globe.” Fortune Brands and Value Hybrid are uniquely situated to transform workplaces from mechanical to connected LOTO and expand the market for these solutions worldwide.