A Century-Old Legacy Comes to an End
Master Lock, a household name in Wisconsin for over 100 years, is bidding farewell to its roots. The company, founded in Milwaukee in 1921, has been a staple in the region, but its presence is dwindling rapidly. In May 2023, Master Lock announced plans to shut down its manufacturing operations in Milwaukee by March 2024, resulting in the loss of 330 jobs.
A Shift in Operations
Although the company maintained its corporate headquarters in Oak Creek, a Milwaukee suburb, it has now decided to relocate entirely. Fortune Brands Innovations, Master Lock’s parent company, has announced the closure of its Oak Creek headquarters, consolidating operations in Illinois.
New Beginnings in Deerfield
The company’s new headquarters will occupy two buildings in Deerfield, a Chicago suburb about 60 miles south of Oak Creek. This move is expected to bring together associates from across all brands and functions into one state-of-the-art campus, enabling faster innovation and product development. The Illinois location was chosen due to incentives offered through the state’s Economic Development for a Growing Economy (EDGE) program.
Growth and Expansion
By the end of 2027, Fortune expects its Deerfield campus to have capacity for more than 1,000 jobs. The company will receive an EDGE tax credit following an investment that creates at least 400 new full-time jobs and retains the 128 full-time jobs already in Deerfield. This expansion is expected to drive long-term growth and position the company for success.
Restructuring and Leadership Changes
As part of the restructuring, Fortune Brands is eliminating the role of group president and replacing it with direct reporting lines and closer working relationships between the CEO and commercial leaders. Several members have been elevated to the executive team, including Leigh Avsec, Aaron Bores, Kevin Campbell, Mark-Hans Richer, Rachel Roberts, and David Youn.
A New Era for Fortune Brands
The Fortune Brands portfolio, which includes Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, SentrySafe, and Yale Residential, is poised for growth and innovation. With its new headquarters in Deerfield, the company is well-positioned to expand its leadership in brands, innovation, and channel.
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