Newell Brands
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Newell Brands is an American manufacturer, marketer and distributor of consumer and commercial products. The company's brands and products include Rubbermaid storage and trash containers; home organization and reusable container products; Contigo and Bubba water bottles; Coleman outdoor products; writing instruments (Berol, Expo Markers, PaperMate, Dymo, Mr. Sketch, Parker Pens, Sharpie, Reynolds, Prismacolor, Rotring, X-acto, Waterman) glue (Elmer's, Krazy Glue); children's products (Aprica, NUK, Tigex, Babysun, Baby Jogger and Graco); cookware and small appliances (Calphalon, Sunbeam, Rival, Crock-Pot; Holmes, FoodSaver, Oster, Osterizer, and Mr. Coffee) and fragrance products (Yankee Candle, Chesapeake Bay Candle, Millefiori Milano, and WoodWick).
| Formerly |
|
|---|---|
| Type | Public |
| Industry | Consumer goods |
| Founded | 1903 Ogdensburg, New York, U.S. |
| Founder | Edgar Newell |
| Headquarters | , U.S. |
Area served | Worldwide |
Key people | Patrick D. Campbell (Chairman) - Ravi Saligram (CEO)[1] |
| Products | |
| Brands | List
|
| Revenue | US$14.74 billion (2017)[2] |
| US$1.052 billion[2] | |
| US$527.8 million[2] | |
| Total assets | US$33.898 billion[2] |
| Owner | Icahn Capital (10%) 2021 proxy statement |
Number of employees | 31,000 (2021)[3] |
| Divisions | Newell Custom Writing |
| Website | newellbrands |
The company's global headquarters was in Atlanta until tax incentives lured it to New Jersey in 2016.[4] Three years later, in 2019, the company announced plans to relocate its headquarters back to Atlanta.[5]
History
Newell Company
The Newell Manufacturing Company was founded by Edgar Newell in Ogdensburg, New York, in 1903 as a manufacturer of metal curtain rods.[citation needed]
The F. W. Woolworth retail chain became the first customer for Newell's bronze–plated curtain rods in 1916, making them the first Newell products to be distributed nationally. This marked the beginning of Newell's mass merchandising strategy. As the business grew, the company built a new 15,000-square-foot facility in Ogdensburg, New York.
The company purchased Barnwell Mfg. Co. of Freeport, Illinois in 1921, renaming it Western Newell Manufacturing Company. Freeport's access to railroad lines facilitated shipping products west. Kresge, the department store chain (later Kmart) was one of Western Newell's larger accounts.[citation needed]
Daniel C. Ferguson was named president in 1965 and developed a growth-by-acquisition strategy, intending to build a strong, multi-product company.
The Newell Company went public in 1972, opening on the NASDAQ at $28 per share. In 1974, they acquired EZ Paintr Corporation, then the world's largest maker of paint applicators. Newell was listed on the New York Stock Exchange with the ticker symbol NWL in 1979.[citation needed] In 1979, Newell moved into its first corporate headquarters in a historic former bank building in Freeport, Illinois.
In 1983, the company entered the cookware market with the purchase of Mirro. In 1987, the company acquired Anchor Hocking Corporation, a specialty manufacturer of glassware, flatware, cookware and other products. The deal included the purchase of Amerock, a maker of cabinet hardware and window components.[citation needed]
In 1992, they acquired Sanford, a manufacturer and marketer of writing instruments, including the Sharpie and Expo brands. A year later, they acquired Levolor, a manufacturer and marketer of window treatments. They also entered the beauty and style category by acquiring Goody hair care accessories, including Ace men's grooming accessories.They also acquired Stuart Hall a Kansas City stationary company which they held until 1998[citation needed]
In 1997, the company acquired Kirsch, a company involved with drapery hardware and custom window coverings.[citation needed] In 1998, the company expanded in cookware with the purchase of Calphalon Corporation, a manufacturer of cookware marketed primarily to upscale retailers and department stores. The company also purchased Panex, a cookware maker in South America.
In 2016, Newell moved its corporate headquarters to Hoboken, New Jersey.[6]
Criticism
Newell Rubbermaid has been criticized in the UK for closing British factories, including those of Parker Pen, and relocating them to Nantes, France, and China.[7] Similarly, they've been criticized for their handling of Toolmakers Berol, Record and Marples.[8]
Newell Sistema products has been criticized for requiring workers in their Auckland, New Zealand factory to work in unsafe conditions during the COVID-19 outbreak and lock down without adequate distances between workers and proper personal protective equipment. After a WorkSafe NZ visit, workers were told they would not have to go to work and would be on full pay for the 4 week lock down.[9]
Mergers
Rubbermaid
In 1999, Newell acquired the Rubbermaid and Graco brand names in a megamerger worth $5.8 billion, and later renamed the combined firm Newell Rubbermaid. This was an acquisition ten times larger than the last biggest acquisition Newell had made, nearly doubled the company's size, and significantly increased Newell's portfolio of brands.[citation needed]
In 2003, the merger was dubbed the "merger from hell" by Businessweek magazine.[10] Newell shareholders lost 50% of their value in the two years following the closing and Rubbermaid shareholders lost 35%. In 2002, Newell wrote off $500 million in goodwill.[citation needed]
Other mergers
In 2000, Newell Rubbermaid acquired Gillette's stationery products business, including the Paper Mate, Parker, Waterman and Liquid Paper brands.
In 2002, they acquired American Tool Companies, adding the Irwin, Vise-Grip, and Marathon brands to their portfolio.
In 2003, Newell Rubbermaid acquired American Saw and Manufacturing Company, a manufacturer of linear-edge power tool accessories, hand tools, and band saw blades marketed under the Lenox brand.
In 2005, the company acquired DYMO, designing, manufacturing, and marketing on-demand labeling solutions. The company expanded its presence in this market with the 2006 purchases of CardScan business card scanners and Mimio interactive whiteboard products along with the 2007 acquisition of postage company Endicia and its Picture-it-Postage brand. In 2005, Mark Ketchum was named president and CEO. The company added the slogan of "Brands That Matter" to their logo to emphasize the change.[citation needed]
In February 2008, Newell Rubbermaid acquired Aprica Kassai, a Japanese maker of strollers, car seats, and other children's products and Technical Concepts, in the away-from-home restroom[clarification needed] market. The company created a global headquarters in the Atlanta metropolitan area to consolidate numerous brands and functions under one roof. In July 2011, Michael B. Polk joined the company as president and CEO.[11]
On July 21, 2014, Newell Rubbermaid announced a $308 million acquisition of Ignite Holdings, a Chicago-based maker of reusable water bottles and thermal mugs.[12] Ignite sold its products under two brand names: Avex and Contigo, also acquiring Ignite's proprietary closing mechanism, Autoseal.[13]
On October 5, 2015, Newell Rubbermaid announced that it would acquire Elmer's Products, the makers of Elmer's glue, Krazy Glue, and X-Acto, among other brands, for $600 million. The company also announced plans to divest its window covering brands Levolor and Kirsch.[14]
On December 14, 2015, Newell Rubbermaid announced that it would acquire Jarden for over $15 billion of cash and stock. The combined company would be known as Newell Brands, and 55% would be owned by Newell's shareholders. The combined company would have estimated annual sales of $16 billion.[15][16]
Divestitures
In 2014 Newell Rubbermaid sold Ashland Hardware Systems, Bulldog and Shurline.
In 2017, Newell sold K2 Sports, Völkl, Diamond Match Company, Levolor and Kirsch.
In January 2018, Newell announced that it would sell off several businesses, mostly former Jarden units, in a refocusing effort.[17] In May 2018, Newell sold Waddington to Novolex.[18] In June 2018, Newell sold Rawlings to Seidler Equity Partners.[19] In August 2018, Newell sold Goody to ACON Investments.[20] In November 2018, Newell sold its Pure Fishing line of business to Sycamore Partners for $1.3 billion and Jostens to Platinum Equity for $1.3 billion.[21]
In June 2019, Newell Brands announced the sale of the United States Playing Card Company to Belgian card manufacturer Cartamundi Group.[22][23]
Brands
Newell's brands include the following.[24]
Home Appliances
| Baby and Health | Commercial Solutions
| Food
| Home Fragrance
|
Outdoor & Recreation
Writing (stationery)
Former brands
- Ashland Hardware
- Amerock
- Bulldog Hardware
- Bicycle [note 2]
- Diamond Match Company
- Goody [note 3]
- Irwin [note 4]
- Jostens
- K2
- Little Tikes [note 5]
- Marker
- Pure Fishing
- Rawlings
- Shurline
- Völkl
- Waddington
- Seal-a-Meal
- GrillMaster
- Health o Meter
- Margaritaville
- Rival
- VillaWare
- White Mountain Products
- Fiona
- Lillo
- Bernardin [26]
- Tableluxe
- Luma Home
- Calypso
- Crawford
- Lehigh
- Mucambo Professional
- Virulana
- Vitomit
- Y-O-U
- Rexair
- Jarden
- Lifoam
- First Alert
- BRK Electronics
- OneLink
- Notes
- ^ As of 2022, the Sunbeam brand is focused almost entirely on health and thermal pain relief products, as well as clothes irons.[25]
- ^ sold to Cartamundi in 2019.
- ^ sold to ACON Investments, LLC. in 2018.
- ^ Newell Brands tool brands were sold to Stanley Black & Decker in 2016 for $1.95 billion.
- ^ sold to MGA Entertainment in 2006.
References
- ^ . Newell Rubbermaid. Archived from the original on December 12, 2013. Retrieved February 5, 2013.
- ^ a b c d "Newell Brands (NWL) Stock Price, Financials and News". Retrieved December 22, 2018.
- ^ "Who We Are".
- ^ "Contact Us 2011-11-29 at the Wayback Machine". Newell Rubbermaid. Retrieved on January 5, 2009.
- ^ "The company behind Sharpie, Rubbermaid is moving jobs out of NJ despite $27M in tax breaks". North Jersey. Retrieved January 7, 2020.
- ^ This N.J.-based company just got named most reputable in U.S.
- ^ Fischier, Tony (June 4, 2009). "A rendezvous with History A visit to the legendary Parker Archives". parkerpens.net. Parker Pens Archives. Retrieved October 14, 2017.
- ^ Duke, Te (March 28, 2013). "Vanished Tool Makers: William Marples & Sons, Sheffield, England". Progress is fine, but it's gone on for too long. Retrieved October 14, 2017.
- ^ Foxcroft, Debrin. "Coronavirus: Walkout works as Sistema workers get time off". Stuff. Stuff. Retrieved March 27, 2020.
- ^ . Business Week. October 19, 2003. Archived from the original on October 13, 2014. Retrieved July 22, 2014.
- ^ Kass, Arielle (June 24, 2011). "Newell Rubbermaid names new CEO". Atlanta Journal-Constitution. Retrieved October 24, 2013.
- ^ Ng, Serena (July 21, 2014). "Newell Rubbermaid to Buy Maker of Reusable Water Bottles". Retrieved July 21, 2014.
- ^ Elahi, @aminamania, Amina. "Newell Rubbermaid to acquire Chicago water bottle maker Ignite for $308 million". chicagotribune.com. Retrieved August 18, 2020.
- ^ "Newell Rubbermaid to Buy Maker of Elmer's Glue for $600 Million". Wall Street Journal. Retrieved October 5, 2015.
- ^ "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved December 14, 2015.
- ^ "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved December 14, 2015.
- ^ Sheetz, Lauren Hirsch, Michael (January 25, 2018). "Newell Brands stock craters 20%, unveils plans to sell off assets". CNBC. Retrieved November 25, 2018.
- ^ . Archived from the original on November 26, 2018. Retrieved November 25, 2018.
- ^ "Newell Brands Announces Agreement to Sell Rawlings Sporting Goods Company, Inc. to Seidler Equity Partners". Retrieved November 25, 2018.
- ^ . Archived from the original on November 26, 2018. Retrieved November 25, 2018.
- ^ "Newell Brands Completes Divestitures of Pure Fishing and Jostens". Retrieved November 25, 2018.
- ^ "Newell Brands Announces Agreement to Sell The United States Playing Card Company to Cartamundi Group". Newell Brands. June 4, 2019. Retrieved June 5, 2019.
- ^ "Cartamundi to acquire The United States Playing Card Company". Cartamundi. June 4, 2019. Retrieved June 5, 2019.
- ^ "Our Brands".
- ^ "Sunbeam Home Home".
- ^ a b "Newell - Healthy Canning". Healthy Canning. Retrieved April 1, 2018.
External links
- Official website
- Business data for Newell Brands:
- SEC filings
- Yahoo!