HOBOKEN, N.J.–(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.
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).
Newell Brands Inc.
Nancy O’Donnell, +1
SVP, Investor and External Relations
Sinatra, +1 201-610-6717
Director, External Communications