Moen Expands Two-Decade-Long Partnership with Meritage Homes as the Exclusive Plumbing Partner

Rhea-AI Summary

Moen, the leading faucet brand in North America, has renewed its exclusive partnership with Meritage Homes, the fifth-largest public homebuilder in the U.S. The multi-year agreement solidifies Moen as Meritage's exclusive supplier of faucets and bath accessories. This collaboration, spanning over two decades, aims to deliver exceptional plumbing solutions within quality, energy-efficient homes.

Moen will provide a tailored selection of kitchen and bath faucets, showerheads, and accessories, focusing on innovative designs that prioritize sustainability and functionality. Notably, Moen's bath faucets meet EPA WaterSense® criteria, contributing to reduced water usage and environmental impact. This partnership aligns with Meritage's mission to design and build sustainable homes, offering homebuyers both stylish designs and potential monthly water utility cost savings.

Positive

• Renewal of exclusive partnership with Meritage Homes, the fifth-largest public homebuilder in the U.S.
• Moen's bath faucets meet EPA WaterSense® criteria, potentially reducing water usage and utility costs
• Alignment with sustainable building practices, potentially attracting environmentally conscious consumers

Negative

• None.

Insights

Market Research Analyst

The extended partnership between Moen and Meritage Homes is a strategic move that solidifies Moen's position in the homebuilding market. This exclusive agreement ensures a steady revenue stream for Moen, potentially impacting Fortune Brands Innovations' (FBIN) financial performance positively. The deal aligns with growing consumer demand for energy-efficient and sustainable home solutions, which could drive sales growth.

However, the impact on FBIN's stock may be in the short term, as this is an extension of an existing 20-year partnership rather than a new market opportunity. Long-term investors should note that this agreement strengthens Moen's market share in new home construction, which could provide a competitive advantage and stable revenue, especially important in a cyclical housing market.

While positive, this news alone is unlikely to cause significant stock movement for FBIN. Investors should monitor how this partnership contributes to overall revenue and market share gains in future earnings reports to gauge its true impact.

NEW AGREEMENT STRENGTHENS PARTNERSHIP DELIVERING EXCEPTIONAL EXPERIENCES TO HOMEBUYERS WITH UNMATCHED QUALITY AND DURABILITY

NORTH OLMSTED, Ohio, Sept. 30, 2024 /PRNewswire/ -- Two leading companies in the home building industry are solidifying their relationship to deliver exceptional plumbing solutions within quality energy-efficient homes to homebuyers across the country. Moen, the leader in water experiences, has signed a multi-year agreement with Meritage Homes, the fifth-largest public homebuilder in the United States, to continue as Meritage's exclusive faucet and bath accessory supplier.

"The partnership between Moen and Meritage has been strong for more than 20 years, and we're incredibly proud to continue as Meritage's exclusive plumbing provider for faucets and accessories," said Kevin Campbell, president, Moen Americas. "We prioritize developing innovative and stylish products that emphasize beauty and functionality in every kitchen and bathroom space. As Meritage focuses on their values of creating 'Life Built Better,' Moen shares the same principles through thoughtful details, prioritizing sustainability and creating peace of mind to deliver elevated experiences in the home for customers."

Moen will provide a tailored selection of kitchen and bath faucets, showerheads, and bath accessories ensuring homebuyers achieve on-trend designs while enjoying unparalleled quality and durability. Moen bath faucets also meet EPA WaterSense^® criteria, helping customers reduce overall water usage for a positive impact on the environment. Through this partnership, Meritage homebuyers will have a home built with exceptional expertise and enhanced plumbing experiences from North America's number one faucet brand.

"The exclusive agreement with Moen helps us in our mission to design and build sustainable homes with the best water experiences," said Clint Szubinski, Chief Operating Officer at Meritage Homes. "Our homebuyers benefit from monthly water utility cost savings by using Moen-designed plumbing products."

For more information about Moen, visit moen.com or call 1-800-BUY-MOEN.
Interested in learning more about Meritage Homes? Visit https://www.meritagehomes.com/.

ABOUT MOEN
Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily.

Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation, and channel leader focused on exciting, supercharged categories in the home products, security, and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl^® including Perrin & Rowe^®, ROHL^®, Riobel^®, Shaws^® and Victoria + Albert^®. Fortune Brands' other brands include Fiberon^® composite decking and railing products; Master Lock^®, Yale^® residential, August^® and Sentry^® Safe security products; LARSON^® storm doors and Therma-Tru^® entry door systems. For more information, please visit www.FBIN.com.

ABOUT MERITAGE HOMES
Meritage is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage has delivered over 185,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, an eleven-time recipient of the U.S. Environmental Protection Agency's (EPA) ENERGY STAR® Partner of the Year for Sustained Excellence Award and Residential New Construction Market Leader Award, as well as a three-time recipient of the EPA's Indoor airPLUS Leader Award.
For more information, visit www.meritagehomes.com.

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SOURCE Moen

FAQ

What is the new agreement between Moen and Meritage Homes for FBIN stock?

Moen, part of Fortune Brands Innovations (NYSE: FBIN), has signed a multi-year agreement with Meritage Homes to continue as their exclusive faucet and bath accessory supplier, strengthening a partnership that has lasted over 20 years.

How does the Moen-Meritage Homes partnership affect water conservation for FBIN?

Moen's bath faucets meet EPA WaterSense® criteria, helping Meritage Homes customers reduce overall water usage. This aligns with both companies' focus on sustainability and can lead to monthly water utility cost savings for homebuyers.

What products will Moen supply to Meritage Homes under the new agreement for FBIN?

Under the new agreement, Moen will provide a tailored selection of kitchen and bath faucets, showerheads, and bath accessories to Meritage Homes, ensuring homebuyers have access to on-trend designs with quality and durability.