Newell Brands

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Newell Brands Inc.
Formerly
    • Newell Company
      (1903–1999)
    • Newell Rubbermaid
      (1999–2016)
TypePublic
IndustryConsumer goods
Founded1903; 119 years ago (1903)
Ogdensburg, New York, U.S.
FounderEdgar Newell
Headquarters
Atlanta, Georgia
,
U.S.
Area served
Worldwide
Key people
Patrick D. Campbell
(Chairman)
Ravi Saligram (CEO)[1]
Products
Brands
List
RevenueIncrease US$14.74 billion (2017)[2]
Increase US$1.052 billion[2]
Increase US$527.8 million[2]
Total assetsDecrease US$33.898 billion[2]
OwnerIcahn Capital (10%) 2021 proxy statement
Number of employees
31,000 (2021)[3]
DivisionsNewell Custom Writing
Websitenewellbrands.com

Newell Brands is an American worldwide manufacturer, marketer and distributor of consumer and commercial products with a portfolio of brands including: 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), First Alert alarm systems, Calphalon cookware and kitchen electrics, Sunbeam, Rival, Crock-Pot, Holmes, FoodSaver, Oster, Osterizer, and Mr. Coffee small kitchen appliances as well as Yankee Candle, Chesapeake Bay Candle, Millefiori Milano, and WoodWick home fragrance products.

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[]

See also: Rubbermaid

Newell Company[]

First Newell logo

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.[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 (relocating them to Nantes, France, and China)[7] as well as 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[]

Newell Rubbermaid logo used from 1999 to 2016

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]

Outdoor & Recreation[]

Writing (stationery)[]

Former brands[]

Notes
  1. ^ sold to Cartamundi in 2019.
  2. ^ sold to ACON Investments, LLC. in 2018.
  3. ^ Newell Brands tool brands were sold to Stanley Black & Decker in 2016 for $1.95 billion.
  4. ^ sold to MGA Entertainment in 2006.

References[]

  1. ^ "Newell Rubbermaid Announces New Organization and Leadership Team to Accelerate Growth Game Plan". Newell Rubbermaid. Archived from the original on 2013-12-12. Retrieved 2013-02-05.
  2. ^ a b c d "Newell Brands (NWL) Stock Price, Financials and News". Retrieved 2018-12-22.
  3. ^ "Who We Are".
  4. ^ "Contact Us Archived 2011-11-29 at the Wayback Machine". Newell Rubbermaid. Retrieved on January 5, 2009.
  5. ^ "The company behind Sharpie, Rubbermaid is moving jobs out of NJ despite $27M in tax breaks". North Jersey. Retrieved 2020-01-07.
  6. ^ This N.J.-based company just got named most reputable in U.S.
  7. ^ Fischier, Tony (4 June 2009). "A rendezvous with History A visit to the legendary Parker Archives". parkerpens.net. Parker Pens Archives. Retrieved 14 October 2017.
  8. ^ Duke, Te (28 March 2013). "Vanished Tool Makers: William Marples & Sons, Sheffield, England". Progress is fine, but it's gone on for too long. Retrieved 14 October 2017.
  9. ^ Foxcroft, Debrin. "Coronavirus: Walkout works as Sistema workers get time off". Stuff. Stuff. Retrieved 27 March 2020.
  10. ^ "Newell Rubbermaid: Why It'll Bounce Back". Business Week. Oct 19, 2003. Retrieved July 22, 2014.
  11. ^ Kass, Arielle (2011-06-24). "Newell Rubbermaid names new CEO". Atlanta Journal-Constitution. Retrieved 2013-10-24.
  12. ^ Ng, Serena (2014-07-21). "Newell Rubbermaid to Buy Maker of Reusable Water Bottles". Retrieved 2014-07-21.
  13. ^ Elahi, @aminamania, Amina. "Newell Rubbermaid to acquire Chicago water bottle maker Ignite for $308 million". chicagotribune.com. Retrieved 2020-08-18.
  14. ^ "Newell Rubbermaid to Buy Maker of Elmer's Glue for $600 Million". Wall Street Journal. Retrieved 5 October 2015.
  15. ^ "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved 14 December 2015.
  16. ^ "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved 14 December 2015.
  17. ^ Sheetz, Lauren Hirsch, Michael (2018-01-25). "Newell Brands stock craters 20%, unveils plans to sell off assets". Retrieved 2018-11-25.
  18. ^ "Newell Brands Announces Agreement to Sell The Waddington Group to Novolex". Archived from the original on 2018-11-26. Retrieved 2018-11-25.
  19. ^ "Newell Brands Announces Agreement to Sell Rawlings Sporting Goods Company, Inc. to Seidler Equity Partners". Retrieved 2018-11-25.
  20. ^ "Newell Brands Declares Dividend on Common Stock and Announces Agreement to Sell Goody Products, Inc. to ACON Investments". Archived from the original on 2018-11-26. Retrieved 2018-11-25.
  21. ^ "Newell Brands Completes Divestitures of Pure Fishing and Jostens". Retrieved 2018-11-25.
  22. ^ "Newell Brands Announces Agreement to Sell The United States Playing Card Company to Cartamundi Group". Newell Brands. 4 June 2019. Retrieved 5 June 2019.
  23. ^ "Cartamundi to acquire The United States Playing Card Company". Cartamundi. 4 June 2019. Retrieved 5 June 2019.
  24. ^ "Our Brands".
  25. ^ a b "Newell - Healthy Canning". Healthy Canning. Retrieved 2018-04-01.

External links[]

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