Newell Brands Announces Agreement to Sell Winter Sports Business
Newell Brands Inc. (NYSE:NWL) announced today that it has signed a definitive agreement to sell its Winter Sports businesses,
inclusive of Völkl®, K2®, Marker®, Dalbello®, Madshus®, Line®, Full Tilt®, Atlas®, Tubbs®, Ride® and BCA® to Kohlberg &
Company, L.L.C., a leading private equity firm specializing in middle-market investing. The sale of the Winter Sports businesses is
part of Newell Brands’ ongoing strategy to accelerate growth by simplifying and strengthening our portfolio.
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.
About Newell Brands
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.
About Kohlberg & Company
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading private equity firm specializing in middle-market investing. Since its
inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity
capital. Over its 30-year history, Kohlberg has completed 70 platform investments and more than 150 add-on acquisitions, with an
aggregate transaction value in excess of $10 billion. For more information, please visit www.kohlberg.com.
This press release and additional information about Newell Brands are available on the company’s Web site, www.newellbrands.com.
Forward-Looking Statements
This news release contains forward-looking information based on management's current views and assumptions. Actual events may
differ materially. Factors that may affect actual results include, but are not limited to: whether and when the required regulatory
approvals will be obtained, whether and when the closing conditions will be satisfied and whether and when the transaction will
close. For other factors that could affect our business please refer to those factors listed in our filings with the Securities and
Exchange Commission (including the information set forth under the caption "Risk Factors" in our Annual Report on Form 10-K).
Investors:
Nancy O’Donnell, +1 770-418-7723
Vice President, Investor Relations
nancy.odonnell@newellco.com
or
Media:
Jason Anthoine, APR, +1 201-610-6768
Vice President, Corporate Communications
jason.anthoine@newellco.com
or
Weber Shandwick
Liz Cohen, +1 212-445-8044
liz.cohen@webershandwick.com
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