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Fortune Brands to Buy Cabinet Maker Omega

L.A. Times Archives
Reuters

Consumer products maker Fortune Brands Inc. said it would buy kitchen and bathroom cabinet maker Omega Group of Iowa for $538 million in cash, expanding by 40% its business in a strong growing market.

Fortune Brands already makes Aristokraft and Schrock cabinets, as well as Moen faucets, Titleist golf balls and Jim Beam bourbon.

Fortune Brands shares rose 87 cents to $49.55 on the NYSE.

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