Newell Brands Sells Tools Business to Stanley Black & Decker

Content Manager

Newell Brands Inc. announced it plans to sell its tools business, including the Irwin, Lenox and Hilmor brands to Stanley Black & Decker for $1.95 billion, saying the decision was reached as part of a series of strategic changes. The transaction is expected to close in the first half of 2017.

“Newell Brands new strategic plan establishes a sharp set of portfolio choices and investment priorities that will focus resources on the businesses with the greatest potential for growth,” said Michael Polk, Newell Brands CEO. “The actions we are taking will strengthen the underlying performance of the company and help unlock the unique opportunity for transformative value creation connected to the combination of Newell Rubbermaid and Jarden Corporation.”

Polk said the decision was not made because of poor sales, as its tool brands “have been very good contributors to our results.” Net sales were $760 million for the last 12 months.

Newell Brands has also decided divest a number of other units including winter sports brands Völkl and K2, its heaters, humidifiers and fans business and the Rubbermaid consumer storage business. Net revenue in 2015 for all of the businesses for sale was approximately $700 million.

The company said it will retain its Dymo industrial labeling business, which is part of its tools segment.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.