HOBOKEN, N.J.--(BUSINESS WIRE)--May 1, 2019--
Newell Brands Inc. (NASDAQ: NWL) announced today that it has completed
divestitures of Process Solutions and Rexair, as it continues to execute
on its Accelerated Transformation Plan.
Newell Brands has finalized the divestiture of Process Solutions to an
affiliate of One Rock Capital Partners, LLC. Process Solutions,
inclusive of Plastic Solutions, Lifoam, Consumer Table Top, Zinc
Products and Applied Materials, manufactures custom-designed plastic,
nylons, monofilament, and zinc products that solve health care,
industrial and consumer challenges.
The company has also completed the sale of its Rexair business to
investment funds affiliated with Rhône Capital. Rexair is a manufacturer
of innovative home cleaning systems under the Rainbow® brand designed to
improve indoor environments for customers around the world.
Newell Brands expects to receive approximately $735 million of after-tax
proceeds from these deals, subject to customary working capital and
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.
About One Rock Capital Partners, LLC
One Rock makes controlling investments in companies with potential for
growth and operational improvement using a rigorous approach that
utilizes highly experienced Operating Partners to identify, acquire and
enhance businesses in select industries. The involvement of these
Operating Partners affords One Rock the ability to conduct due diligence
and consummate acquisitions and investments in all types of situations,
regardless of complexity. One Rock works collaboratively with company
management and its Operating Partners to develop a comprehensive
business plan focused on growing the enterprise and its profitability to
enhance long-term value. For more information, visit www.onerockcapital.com.
This news release contains forward-looking information based on
management's current views and assumptions, including statements
regarding the expected financial impact of proceeds of the Process
Solutions and Rexair transactions. 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
Reports on Form 10-Q for other factors that could affect our business.
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Source: Newell Brands Inc.
SVP, Investor Relations and
+1 (201) 610-6857
+1 (201) 610-6717