Newell Brands Declares Dividend on Common Stock and Announces Agreement to Sell Goody Products, Inc. to ACON Investments
HOBOKEN, N.J.--(BUSINESS WIRE)-- Newell Brands Inc. (NYSE: NWL) announced today the declaration of a quarterly cash dividend of $0.23 per share. The dividend is payable September 14, 2018 to common stockholders of record at the close of business on August 31, 2018.
The company also announced that it has signed a definitive agreement to sell Goody Products, Inc., a leading manufacturer of hair styling tools and accessories, to a fund managed by ACON Investments, L.L.C., a private equity investment firm based in Washington, D.C. Terms were not disclosed. Goody’s 2017 net sales were approximately $115 million.
The transaction is expected to close within approximately 30 days, subject to customary closing conditions, including regulatory approval. Baird acted as financial advisor to Newell Brands on the Goody transaction.
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®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, 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.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $5.3 billion of capital. ACON has professionals in Washington, DC, Los Angeles, São Paulo, Bogotá and Mexico City. For more information, visit www.aconinvestments.com.
This news release contains forward-looking information based on management's current views and assumptions, including statements regarding the expected timing of the Goody transaction. Actual events may differ materially. Factors that may affect actual events include, but are not limited to, whether and when the required regulatory approvals for the Goody transaction will be obtained, whether and when the closing conditions will be satisfied and whether and when the transaction will close. 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 for other factors that could affect our business.
This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.
Newell Brands Inc.
SVP, Investor Relations and Communications
+1 (201) 610-6857
Burson Cohn and Wolfe
+1 (212) 614-5033
Director of Investor Relations
+1 (202) 386-9767
Source: Newell Brands Inc.