HOBOKEN, N.J.--(BUSINESS WIRE)--Feb. 26, 2019--
Newell Brands (NASDAQ: NWL) continues to make progress on its
Accelerated Transformation Plan, designed to create a simpler, faster,
stronger consumer-focused portfolio of leading brands and today
announced that it has signed a definitive agreement to sell its Rexair
business to investment funds affiliated with Rhône Capital, a global
private equity firm, specializing in mergers and acquisitions, leveraged
buyouts, recapitalizations, and partnerships with particular focus on
European and trans-Atlantic investments.
Since 1936, Rexair has developed and manufactured innovative Rainbow®
products designed to improve indoor environments for customers around
the world. In 2018, net sales for the Rexair business were approximately
BMO Capital Markets acted as financial advisor to the company on the
Rexair deal, which is expected to close by the end of the second
quarter, subject to customary closing conditions, including regulatory
About Newell Brands
Newell Brands (NASDAQ: 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®, Marmot®, Oster®,
Sunbeam®, FoodSaver®, Mr. Coffee®, Graco®, Baby Jogger®, NUK®,
Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For
hundreds of millions of consumers, Newell Brands makes life better every
day, where they live, learn, work and play.
This press release and additional information about Newell Brands are
available on the company’s website, www.newellbrands.com.
With over 20 years of investing experience, Rhône and its affiliates
comprise a global alternative investment management firm with more than
$5 billion in assets under management. The firm focuses its private
equity investments in market leading businesses with a pan-European or
transatlantic presence and global growth opportunities. Rhône, which is
currently investing capital from its fifth private equity fund, has
invested in a diversified portfolio of companies including those in the
chemical, consumer product, food, packaging, industrials, specialty
material, business services, and transportation sectors.
This news release contains forward-looking information based on
management's current views and assumptions, including statements
regarding the expected timing of the closing of the Rexair transaction.
Actual results and events may differ materially from those described in
the forward-looking statements above. Please refer to the cautionary
statements set forth in the "Forward-Looking Statements" section and
under the caption “Risk Factors” in Newell Brands’ Annual Report on Form
10-K and Quarterly Report on Form 10-Q for the third quarter 2018 for
other factors that could affect our business.
View source version on businesswire.com:
Source: Newell Brands
SVP, Investor Relations and
+1 (201) 610-6857
Director, External Communications
+ (201) 610-6717