Fortune Brands Innovations, Inc. announced it has acquired a minority stake and entered into a strategic partnership with Value Hybrid Global, S.L. . 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 and Value Hybrid are uniquely situated to transform workplaces from mechanical to connected LOTO and expand the market for these solutions worldwide.

LOTO solutions can improve worker safety by helping to prevent potentially dangerous equipment from releasing hazardous energy while employees are working with machinery. LOTO compliance is a common workplace challenge; in the U.S. alone, LOTO was the 6th most frequently cited violation following inspections of worksites by federal OSHA officials for all industries in 2023*, with millions of dollars in LOTO-related fines assessed on an annual basis. Fortune Brands believes there is a significant and growing long-term opportunity in the U.S. and around the globe as companies seek to automate and provide real-time tracking of processes and procedures that will improve safety in the work environment and make it more secure in the future.

Master Lock is well-positioned as customers become ever-more safety focused and seek an effective migration path from more traditional, mechanical solutions to cLOTO solutions.