Jones Day is advising Newell Brands Inc. in the sale of its Pine Mountain® fire starters, fire logs, and fire safety business, as well as its Diamond® matches, fire starters, lighters, toothpicks, and laundry business.
The company has also entered into a definitive agreement to sell its Rubbermaid® consumer storage totes business to United Solutions, a leading supplier of plastic products for the home and office. In conjunction with the sale, the parties will enter into a five-year licensing agreement for use of the Rubbermaid® brand name. Financial terms of the agreement were not disclosed and are not material.
The Rubbermaid® consumer storage business represents approximately $70 million in annual sales.
Additionally, the company is holding for sale its Pine Mountain® fire starters, fire logs, and fire safety business, as well as its Diamond® matches, fire starters, lighters, toothpicks, and laundry business. These businesses collectively represent approximately $87 million in annual sales. Private label products and other associated brands in these categories will be included in any sale. Newell Brands will retain all other Diamond®-branded products, such as plastic cutlery, as well as its First Alert® home safety business.
Newell Brands (NYSE:NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Rawlings®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, Waddington and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.
Jones Day is advising Newell Brands Inc. in the sale with a team led by Erik Belenky.
Involved fees earner: Erik Belenky – Jones Day;
Law Firms: Jones Day;
Clients: Newell Brands Inc.;