Newell Brands to Acquire Chesapeake Bay Candle
September 07 2017 - 8:30AM
Business Wire
Newell Brands Inc. (NYSE: NWL) today announced it has entered
into a definitive agreement to acquire Chesapeake Bay Candle from
its founders, for a purchase price of $75 million, subject to
customary working capital adjustments. Based in Rockville,
Maryland, Chesapeake Bay Candle is a leading developer,
manufacturer and marketer of premium candles and other home
fragrance products, focused on consumer wellness and natural
fragrance. The company is a fast-growing business, with annual net
sales of approximately $55 million.
The acquisition will be reported as part of Newell Brands’ Live
segment.
The transaction is subject to customary closing conditions and
will be funded from cash on hand at the time of closing, which is
expected to occur in the fourth quarter of 2017.
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.
This press release and additional information about Newell
Brands are available on the company’s website,
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 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).
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version on businesswire.com: http://www.businesswire.com/news/home/20170907005555/en/
Newell Brands Inc.Investors:Nancy O’Donnell, +1
770-418-7723SVP, Investor and External
Relationsnancy.odonnell@newellco.comorMedia:Michael Sinatra, +1
201-610-6717Director, External
Communicationsmichael.sinatra@newellco.com
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