Kohlberg & Company’s $240 million acquisition of Winter Sports businesses of Newell Brands Inc.

Jones Day is advising Newell Brands Inc. (NYSE: NWL) in the sale of its Winter Sports businesses to private equity firm Kohlberg & Company for $240 million, subject to adjustment.

The transaction, which is subject to regulatory approval and other customary closing conditions, includes the Völkl®, K2®, Marker®, Dalbello®, Madshus®, Line®, Full Tilt®, Atlas®, Tubbs®, Ride® and BCA® brands of Newell.

Gross proceeds from the divestiture are expected to be $240 million, subject to customary working capital and transaction adjustments. Net sales for the divested business were approximately $330 million during 2016 and annual adjusted EBITDA for the divested business is approximately $25 million.

The transaction is expected to close late in the second quarter or early in the third quarter of 2017, subject to customary closing conditions, including regulatory approval.

Goldman Sachs & Co. LLC acted as financial advisor to Newell Brands on the transaction.

Additionally, Newell Brands has signed a definitive agreement to sell its Zoot® & Squadra® apparel brands in a separate transaction.

Jones Day is advising Newell Brands Inc. on the deal with a team led by Erik Belenky.

Involved fees earner: Erik Belenky – Jones Day;

Law Firms: Jones Day;

Clients: Newell Brands Inc.;


Author: Ambrogio Visconti