HOBOKEN, N.J.--(BUSINESS WIRE)--Newell Brands Inc. announced today that it has signed a definitive agreement to sell its Pine Mountain® fire starters and fire logs business as well as its Diamond® matches, fire starters, lighters, toothpicks, clothespins and clotheslines business to Royal Oak Enterprises LLC, a leading manufacturer of charcoal and grilling products. Martin E. Franklin and Ian G. H. Ashken, members of Newell Brands’ Board of Directors, are affiliates of Royal Oak. Newell Brands will retain Diamond branded plastic cutlery products. The transaction is expected to close in the second quarter of 2017, subject to customary closing conditions. Terms were not disclosed.
About Newell Brands
Newell Brands 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®. Newell Brands makes life better for hundreds of millions of consumers 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.