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Posted January 17, 2017

Newell Brands to sell Rubbermaid

As part of an effort to simplify and strengthen its portfolio, Newell Brands Inc. has agreed to sell Rubbermaid.


The company entered into a definitive agreement to sell its Rubbermaid consumer storage totes business to United Solutions, a 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. The Rubbermaid consumer storage business represents approximately $70 million in annual sales.

In October 2016, the company entered into a definitive agreement to sell its tools business, including the Irwin, Lenox and Hilmor brands, to Stanley Black & Decker for $1.95 billion.

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