The headquarters for Moen Inc. appears to be getting ready to hop on the highway out of town. A press release and local sources say the longtime Cleveland-area company will be relocating its HQ from North Olmsted to the Chicago suburb of Deerfield, IL (Google). CLICK IMAGES TO ENLARGE THEM.
Move is part of a corporate restructuring
Faucet and fixture maker Moen Inc. is relocating is corporate headquarters from the western Cleveland suburb of North Olmsted to the northern Chicago suburb of Deerfield, IL by the summer of 2026, according to a press release and affected employees. It is not known how many of Moen’s 600-plus HQ employees are making the move but it appears that a significant number of them will.
Employees at Moen’s headquarters, 25300 Al Moen Dr., were informed of the move yesterday. They were reportedly offered a 15 percent raise and up to $10,000 for moving expenses if they moved to Chicago where costs of living are 26 percent higher. If an employee declines to move, they would get severance pay, employees and their families told NEOtrans. Not all employees were apparently notified of these options.
The move is part of a larger overall corporate restructuring of Moen’s parent Fortune Brands which is consolidating its U.S. offices into two of the three buildings on the former Horizon Therapeutics campus at 1 Horizon Way in Deerfield. Horizon moved its legal headquarters to Dublin, Ireland. Fortune Brands is already based in Deerfield, but in a smaller building at 520 Lake Cook Rd.
Crain’s Chicago Business is reporting that 400 jobs will be brought to the campus over the next three years. But the Fortune Brands press release issued today says that number could grow to 1,000 employees by the end of 2027. The final number will likely determine what, if any, office presence Moen retains in Greater Cleveland.
“We have a huge opportunity ahead of us,” said Fortune Brands Chief Executive Officer Nicholas Fink in a written statement. “Bringing together associates from across all our brands and functions into one state-of-the-art campus will help us to bring innovations and products to life faster, while also making the organization more efficient and aligned.”
Located near the interchange of Interstate 94 and 294, the former Horizon Therapeutics campus will be the new home of Fortune Brands and, along with it, Moen. Horizon moved to Ireland. The site is also accessed by Tekada Parkway, named after a Japanese pharmaceutical company that moved its US headquarters from this site to Boston starting in 2018 (Google).
Fink said the company was “fortunate” to find a recently built campus in what he called “an ideal location” that already has innovative and fun spaces where associates can dream and build, while fostering stronger relationships, collaboration and a sense of community.
Fortune Brands also will get annual tax credits from the State of Illinois’ Economic Development for a Growing Economy (EDGE) program as a result of the corporate consolidation.
NEOtrans reached out to spokespersons at regional economic development advocacy organization Team NEO for comment and for information on what, if anything, can be done to retain Moen’s headquarters or back-office employees here.
NEOtrans also reached out to North Olmsted’s economic development staff and to Cuyahoga County Executive Chris Ronayne for comment. None have responded so far. This article will be updated if and when they do.
The company was founded by Alfred M. Moen, who was inspired to create faucets after burning his hands on a two-handle faucet in 1937. Moen became part of Stanadyne in 1956. Forstmann-Little & Company acquired Stanadyne in 1988. Fortune Brands purchased Forstmann-Little & Company, and then spun off its related product lines to form Fortune Brands Home & Security in 2011.
A view of the front entrance to the Moen headquarters off Al Moen Drive, named after the company’s founder (Google).
Worldwide, Moen has about 2,400 employees and an annual revenue of approximately $1 billion. In addition to Moen, Fortune Brands’ include Therma-Tru, Master Lock, SentrySafe and more.
Moen has been in its current 141,221-square-foot headquarters building near Interstate 480 and Great Northern Boulevard since 1993. Before the pandemic, Moen was considering a new office building for its growing employment. It had expanded into leased offices on the other side of I-480 along Country Club Boulevard.
After the pandemic, despite remote working, NEOtrans had learned in 2021 that Moen was continuing to look at its office options, including expanding its existing building, relocating to Downtown Cleveland, or moving its headquarters out of Greater Cleveland altogether.
“We are confident that this new campus headquarters in Deerfield will enable us to best shape an environment where people can innovate together while delivering on our purpose, accelerating both the business and our associates’ careers, and building our reputation as an employer of choice in the Chicago area,” said Fortune Brands Chief Human Resources Officer Kristin Papesh.
NEOtrans will continue to follow this developing story. Please check back for updates.
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