Newell Brands Announces Agreement to Sell Tools Brands to Stanley Black & Decker

HOBOKEN, N.J.–(BUSINESS WIRE)–Newell Brands Inc. (NYSE: NWL) announced today it has entered into a
definitive agreement to sell its Tools business, including the Irwin®,
Lenox® and Hilmor® brands, to Stanley Black & Decker. This agreement has
been reached in the context of a series of strategic changes announced
last week related to the company’s new corporate strategy.

“Newell Brands’ new strategic plan establishes a sharp set of portfolio
choices and investment priorities that will focus resources on the
businesses with the greatest potential for growth,” said Michael Polk,
Newell Brands Chief Executive Officer. “The actions we are taking will
strengthen the underlying performance of the company and help unlock the
unique opportunity for transformative value creation connected to the
combination of Newell Rubbermaid and Jarden Corporation. While our Tools
brands have been very good contributors to our results, we believe they
will benefit from being part of Stanley Black & Decker, a global leader
in the tools category.”

Gross proceeds from the divestiture are expected to be $1.95 billion,
which includes retained accounts receivable, subject to customary
working capital and transaction adjustments. Net sales for the divested
business were approximately $760 million for the last twelve months. The
transaction is expected to close in the first half of 2017, subject to
certain customary conditions, including regulatory approvals. Proceeds
will be primarily used to pay down debt in furtherance of the company’s
stated goal of achieving a leverage ratio of 3 to 3.5 times EBITDA by
the end of 2018. If the transaction were to be completed on December 31,
2016, the company would expect normalized EPS dilution of approximately
$0.15 on an annualized basis after the benefit of short term cost
actions and lower interest expense related to accelerated debt
repayment. J.P. Morgan acted as financial advisor to Newell Brands on
the transaction.

As previously announced, as the result of a recently completed strategic
review of its portfolio, Newell Brands has taken the decision to hold a
number of other businesses for sale including its two winter sports
units, Völkl® and K2®, within the Outdoor Solutions Segment, its
Heaters, Humidifiers, and Fans business within the Consumer Solutions
Segment and the Rubbermaid® Consumer Storage business within the Home
Solutions segment. Newell Brands will retain its Dymo® Industrial
labeling business within the reported Tools segment. The total 2015 net
sales of the remaining businesses held for sale is approximately $700
million. Sales processes are underway and the company hopes to complete
the divestiture of the remaining assets held for sale within the first
half 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,

Forward-Looking Statements

This news release contains forward-looking information based on
management’s current views and assumptions, including statements
regarding the expected benefits of the Tools transaction, the expected
financial impact of the Tools transaction, the expected timing of the
Tools transaction, and the status and expected timing of its other
proposed divestitures. Actual events may differ materially. Factors that
may affect actual results include, but are not limited to, our ability
to execute upon our portfolio management strategies, whether and when
the required regulatory approvals for the Tools transaction will be
obtained, whether and when the closing conditions will be satisfied and
whether and when the Tools transaction will close, the ability of Newell
Brands to execute on the results of its recently completed strategic
review of its portfolio, whether and when Newell Brands’ proposed
divestitures will sign and close and the risks associated with strategic
acquisitions and divestitures. Please refer to the cautionary statements
set forth in the “Forward-Looking Statements” section of the Company’s
most recently filed Quarterly Report on Form 10-Q as well as other
factors listed in our filings with the SEC (including the information
set forth under the caption “Risk Factors” in Newell Brands’ Annual
Report on Form 10-K) for other factors that could affect our business.


Investor Contact:
Newell Brands
Nancy O’Donnell, +1-770-418-7723
Vice President, Investor
Newell Brands Inc.
Tom Sanford,
Vice President, Global Communications
Liz Cohen, +1-212-445-8044