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Newell Brands completes divestitures of the Waddington Group and Rawlings Sporting Goods Company, Inc.

Published 06/29/2018, 12:54 PM
© Reuters.  Newell Brands completes divestitures of the Waddington Group and Rawlings Sporting Goods Company, Inc.
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  • Newell Brands (NWL +1.1%) completed the sale of The Waddington Group, including Eco-Products, POLAR PAK, WNA and other industry-leading brands, to Novolex Holdings, LLC.
  • Newell Brands also completed the divestiture of Rawlings Sporting Goods Company, Inc., comprising the Rawlings, Miken and Worth brands, to a fund managed by Seidler Equity Partners (“SEP”).
  • Gross proceeds from both transactions were approximately $2.7B.
  • The company continues to expect after-tax proceeds of ~$2.5B, which will be applied to deleveraging and share repurchase.
  • Previously: Newell Brands to sell the Waddington Group to Novolex (May 4)
  • Now read: Newell Brands: Real Value, If Executed Upon


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