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Newell Brands

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Newell Brands Inc.is an American manufacturer, marketer and distributor of consumer and commercial products. The company's brands and products includeRubbermaidstorage and trash containers; home organization and reusable container products; Contigo and Bubba water bottles;Colemanoutdoor products; writing instruments (Berol,Expo Markers,Paper Mate,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 andGraco); cookware and small appliances (C Alpha lon,Sunbeam,Rival,Crock-Pot;Holmes,FoodSaver,Oster,Osterizer,andMr. Coffee) and fragrance products (Yankee Candle,Chesapeake Bay Candle,Millefiori Milano,and WoodWick).

Newell Brands Inc.
Formerly
    • Newell Company (1903–1999)
    • Newell Rubbermaid (1999–2016)
Company typePublic
IndustryConsumer goods
Founded1903;121 years ago(1903),inOgdensburg, New York,U.S.
FounderEdgar Newell
Headquarters
Atlanta, Georgia
,
U.S.
Area served
Worldwide
Key people
Products
Brands
List
RevenueDecreaseUS$8.13 billion(2023)
DecreaseUS$−85 million(2023)
DecreaseUS$−388 million(2023)
Total assetsDecreaseUS$12.2 billion(2023)
Total equityDecreaseUS$3.11 billion(2023)
Owners
Number of employees
c. 24,600(2023)
DivisionsNewell Custom Writing
Websitenewellbrands
Footnotes / references
[1][2][3]

The company's global headquarters is inAtlanta.[4]

History

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See also:Rubbermaid

Newell Company

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First Newell logo

The Newell Manufacturing Company was founded by Edgar Newell inOgdensburg, New York,in 1903 as a manufacturer of metalcurtain rods.[5][6]

TheF. W. Woolworthretail chainbecame the first customer for Newell'sbronze–platedcurtain 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 torailroadlines facilitated shipping products west. Kresge, the department store chain (laterKmart) was one of Western Newell's larger accounts.[citation needed]

Daniel C. Fergusonwas named president in 1965 and developed a growth-by-acquisition strategy, intending to build a strong, multi-product company.

The Newell Companywent publicin 1972, opening on the NASDAQ at $28 per share. In 1974, they acquired EZ Paintr Corporation, then the world's largest maker ofpaintapplicators.Newell was listed on theNew York Stock Exchangewith the ticker symbol NWL in 1979.[7]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 ofMirro.In 1985, William P. Sovey was announced as the new president.[8]Daniel C. Ferguson continued as vice chairman and chief executive officer of the company.[8]In 1987, the company acquiredAnchor HockingCorporation, a specialty manufacturer of glassware, flatware, cookware and other products. The deal included the purchase ofAmerock,a maker of cabinet hardware and window components.[9]

In 1992, they acquiredSanford,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,[10]including Ace men's grooming accessories.They also acquired Stuart Hall a Kansas City stationery company which they held until 1998.[11][12]

In 1997, Newell acquired Cooper Industries' Kirsch, a company specializing indraperyhardware, and customwindow coverings.[13]In 1998, the company expanded in cookware with the purchase of C Alpha lon Corporation,[14]a manufacturer of cookware marketed primarily toupscaleretailers and department stores. The company also purchased Panex, a cookware maker in South America.

In 2016, Newell moved its corporate headquarters from Atlanta to Hoboken, New Jersey. In 2019, it returned to Atlanta.[15]

Criticism

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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.[16]Similarly, they have been criticized for their handling of Toolmakers Berol, Record and Marples.[17]

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 four week lock down.[18]

Mergers

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Rubbermaid

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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'sportfolioof brands.[citation needed]

In 2003, the merger was dubbed the "merger from hell" byBusinessweekmagazine.[19]Newell shareholders lost 50% of their value in the two years following the closing and Rubbermaid shareholders lost 35%. In 2002, Newellwrote off$500 million in goodwill.[citation needed]

Other mergers

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In 2000, Newell Rubbermaid acquiredGillette's stationery products business, including thePaper Mate,Parker,WatermanandLiquid Paperbrands.

In 2002, they acquiredAmerican Tool Companies,adding the Irwin,Vise-Grip,and Marathon brands to their portfolio.

In 2003, Newell Rubbermaid acquiredAmerican Saw and Manufacturing Company,a manufacturer of linear-edgepower toolaccessories, hand tools, and band saw blades marketed under the Lenox brand.

In 2005, the company acquiredDYMO,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 andMimio interactivewhiteboardproducts along with the 2007 acquisition of postage companyEndiciaand its Picture-it-Postage brand. In 2005, Mark Ketchum was named president and CEO. The company added the slogan of "Brands That Matter" to theirlogoto 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 theAtlanta metropolitan areato consolidate numerous brands and functions under one roof. In July 2011,Michael B. Polkjoined the company as president and CEO.[20]

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.[21]Ignite sold its products under two brand names: Avex and Contigo, also acquiring Ignite's proprietary closing mechanism, Autoseal.[22]

On October 5, 2015, Newell Rubbermaid announced that it would acquireElmer's Products,the makers of Elmer'sglue,Krazy Glue,andX-Acto,among other brands, for $600 million. The company also announced plans to divest its window covering brandsLevolorand Kirsch.[23]

On December 14, 2015, Newell Rubbermaid announced that it would acquireJardenfor 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.[24][25]

Divestitures

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In 2014 Newell Rubbermaid sold Ashland Hardware Systems, Bulldog and Shurline.

In 2017, Newell soldK2 Sports,Völkl,Diamond Match Company,Levolorand Kirsch.

In January 2018, Newell announced that it would sell off several businesses, mostly former Jarden units, in a refocusing effort.[26]In May 2018, Newell sold Waddington to Novolex.[27]In June 2018, Newell soldRawlingsto Seidler Equity Partners.[28]In August 2018, Newell soldGoodytoACON Investments.[29]In November 2018, Newell sold its Pure Fishing line of business toSycamore Partnersfor $1.3 billion andJostenstoPlatinum Equityfor $1.3 billion.[30]

In June 2019, Newell Brands announced the sale of theUnited States Playing Card Companyto Belgian card manufacturerCartamundi Group.[31][32]

Brands

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Newell's brands include the following.[33]

Outdoor & Recreation

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Writing (stationery)

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Former brands

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Notes
  1. ^In the UK and Europe only, brand owned byBreville Groupelsewhere
  2. ^As of 2022, the Sunbeam brand is focused almost entirely on health and thermal pain relief products, as well as clothes irons.[34]
  3. ^sold toCartamundiin 2019.
  4. ^sold to ACON Investments, LLC. in 2018.
  5. ^Newell Brands tool brands were sold toStanley Black & Deckerin 2016 for $1.95 billion.
  6. ^sold toMGA Entertainmentin 2006.

References

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  1. ^"Newell Brands 2023 Annual Report (Form 10-K)".U.S. Securities and Exchange Commission. February 21, 2024.
  2. ^"SEC Proxy Statement".U.S. Securities and Exchange Commission. April 5, 2023.
  3. ^Terlep, Sharon (February 10, 2023)."Newell Brands Slashes Profit Targets, Changes CEOs".Wall Street Journal.RetrievedJune 2,2023.
  4. ^"Form 8K".SEC.gov.US SECURITIES AND EXCHANGE COMMISSION. May 23, 2023.RetrievedJune 2,2023.
  5. ^Deutsch, Claudia (March 20, 2004)."After Buying Rubbermaid, a Deluge of Sorts".New York Times. p. C1.RetrievedJune 7,2023.Newell, which started as a manufacturer of curtain rods in 1902
  6. ^"Newell Rubbermaid Inc. - Company Profile, Information, Business Description, History, Background Information on Newell Rubbermaid Inc".GABlind.GA Blind Company.RetrievedJune 7,2023.
  7. ^"Three New Listings Set by Big Board This Week". Wall Street Journal. June 25, 1979. p. 37.Newell Cos. starts trading Thursday with the symbol NWL
  8. ^ab"Newell Head Is Appointed".The New York Times.December 24, 1985. p. 2.RetrievedJuly 12,2024.
  9. ^Gary, Alex (August 15, 2013)."Newell Rubbermaid sells Amerock".Rockford Register Star.USA TODAY Network.RetrievedJune 7,2023.The Aldeens owned the company until 1966 when they sold it to Stanley Works for $32 million. Stanley sold it to Anchor-Hocking in 1975 and then Anchor-Hocking sold it to Newell in 1987.
  10. ^"Newell to Buy Goody for $24.75 a Share or About $165 Million". Wall Street Journal. Dow Jones Corp. June 15, 1993. p. B4.Newell continued its growth-through-acquisition strategy
  11. ^"COMPANY NEWS: PEN-TAB HOLDINGS TO BUY NEWELL'S STUART HALL UNIT".New York Times. June 26, 1998. p. D3.RetrievedJune 7,2023.
  12. ^Storch, Charles (April 9, 1992)."Newell plans to add Stuart Hall to Stable".The Chicago Tribune.RetrievedJune 7,2023.
  13. ^"NEWELL TO BUY COOPER'S DRAPERY DIVISION".New York Times. Bloomberg News. January 31, 1997. p. D3.RetrievedJune 8,2023.Kirsch, based in Sturgis, Mich., makes drapery rods and window shades and blinds.
  14. ^"COMPANY NEWS; NEWELL IN STOCK SWAP WITH COOKWARE MAKER, CALPHALON".No. April 1, 1998. New York Times. Dow Jones. p. D4.RetrievedJune 9,2023.
  15. ^Trubey, J. Scott (August 2, 2019)."Sharpie and C Alpha lon parent Newell Brands moving back to Atlanta area".The Atlanta Journal-Constitution.RetrievedJune 2,2023.
  16. ^Fischier, Tony (June 4, 2009)."A rendezvous with History A visit to the legendary Parker Archives".parkerpens.net.Parker Pens Archives.RetrievedOctober 14,2017.
  17. ^Duke, Te (March 28, 2013)."Vanished Tool Makers: William Marples & Sons, Sheffield, England".Progress is fine, but it's gone on for too long.RetrievedOctober 14,2017.
  18. ^Foxcroft, Debrin."Coronavirus: Walkout works as Sistema workers get time off".Stuff. Stuff.RetrievedMarch 27,2020.
  19. ^"Newell Rubbermaid: Why It'll Bounce Back".Business Week.October 19, 2003. Archived fromthe originalon October 13, 2014.RetrievedJuly 22,2014.
  20. ^Kass, Arielle (June 24, 2011)."Newell Rubbermaid names new CEO".Atlanta Journal-Constitution.RetrievedOctober 24,2013.
  21. ^Ng, Serena (July 21, 2014)."Newell Rubbermaid to Buy Maker of Reusable Water Bottles".RetrievedJuly 21,2014.
  22. ^Elahi, @aminamania, Amina."Newell Rubbermaid to acquire Chicago water bottle maker Ignite for $308 million".chicagotribune.RetrievedAugust 18,2020.
  23. ^"Newell Rubbermaid to Buy Maker of Elmer's Glue for $600 Million".Wall Street Journal.RetrievedOctober 5,2015.
  24. ^"Newell Rubbermaid to Acquire Jarden for $15.4 Billion".Bloomberg.RetrievedDecember 14,2015.
  25. ^"Newell Rubbermaid to Buy Jarden for Over $15 Billion".The Wall Street Journal.RetrievedDecember 14,2015.
  26. ^Sheetz, Lauren Hirsch, Michael (January 25, 2018)."Newell Brands stock craters 20%, unveils plans to sell off assets".CNBC.RetrievedNovember 25,2018.{{cite web}}:CS1 maint: multiple names: authors list (link)
  27. ^"Newell Brands Announces Agreement to Sell The Waddington Group to Novolex".Archived fromthe originalon November 26, 2018.RetrievedNovember 25,2018.
  28. ^"Newell Brands Announces Agreement to Sell Rawlings Sporting Goods Company, Inc. to Seidler Equity Partners".RetrievedNovember 25,2018.
  29. ^"Newell Brands Declares Dividend on Common Stock and Announces Agreement to Sell Goody Products, Inc. to ACON Investments".Archived fromthe originalon November 26, 2018.RetrievedNovember 25,2018.
  30. ^"Newell Brands Completes Divestitures of Pure Fishing and Jostens".RetrievedNovember 25,2018.
  31. ^"Newell Brands Announces Agreement to Sell The United States Playing Card Company to Cartamundi Group".Newell Brands. June 4, 2019.RetrievedJune 5,2019.
  32. ^"Cartamundi to acquire The United States Playing Card Company".Cartamundi. June 4, 2019.RetrievedJune 5,2019.
  33. ^"Our Brands".
  34. ^"Sunbeam Home Home".
  35. ^ab"Newell - Healthy Canning".Healthy Canning.RetrievedApril 1,2018.
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