HOBOKEN, N.J.--(BUSINESS WIRE)--Newell Brands (NASDAQ:NWL) continues to make progress on its Accelerated Transformation Plan, designed to create a simpler, faster, stronger consumer-focused portfolio of leading brands, and today announced that it has signed a definitive agreement to sell The United States Playing Card Company (“USPC”) to Cartamundi Group, a leading manufacturer and distributor of playing cards and board games.
USPC, based in Erlanger, KY is the leader in the production and distribution of premier brands of playing cards, including BICYCLE®, BEE®, AVIATOR®, HOYLE®, and FOURNIER®. In 2018 net sales for USPC were approximately $112 million.
Citi acted as financial advisor to Newell Brands on the USPC transaction. It is expected to close in the second half of 2019, subject to customary closing conditions, including regulatory approvals.
About Newell Brands
Newell Brands (NASDAQ: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®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better 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.
About Cartamundi Group
Cartamundi is Latin for “Cards for the World”. With a history dating back to 1765, today Cartamundi is a leading manufacturer of playing cards, card games and board games. With a network of owned sales offices, 11 state-of-the-art manufacturing plants and an over 2,200 people strong workforce, Cartamundi is a prominent and growing supplier to the global entertainment market.
This news release contains forward-looking information based on management's current views and assumptions, including statements regarding the expected timeframe for closing of the USPC transaction. Actual results and events may differ materially from those described in the forward-looking statements above. Please refer to the cautionary statements set forth in the "Forward-Looking Statements" section and under the caption “Risk Factors” in Newell Brands’ Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for other factors that could affect our business.