Newell Rubbermaid Announces Completion of Elmer’s Acquisition
ATLANTA–(BUSINESS WIRE)–Newell Rubbermaid (NYSE: NWL) today completed its acquisition of Elmer’s
Products, Inc. (“Elmer’s”) from an affiliate of Berwind Corporation, a
family-owned investment management company. Elmer’s, whose brands
include Elmer’s®, Krazy Glue®, and X-Acto®, is the leading provider of
activity-based adhesive and cutting products that inspire creativity in
the classroom, at home, in the office, in the workshop and at the craft
table. Elmer’s distributes Krazy Glue, a leading instant adhesive brand
in North America, through a joint venture with Toagosei Co., Ltd.1
Elmer’s is projected to deliver approximately $240 million of net sales
in calendar year 2015, and the acquisition is expected to be accretive
to Newell Rubbermaid’s normalized earnings and operating margin in 2016.
“We are delighted to welcome the Elmer’s team and their leading brands
to our company,” said Michael Polk, President and Chief Executive
Officer. “The addition of Elmer’s adds even more firepower and long term
potential to our building growth acceleration and margin development
story.”
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of
consumer and commercial products with 2014 sales of $5.7 billion and a
strong portfolio of leading brands, including Sharpie®, Paper
Mate®, Elmer’s®, Rubbermaid Commercial Products®,
Irwin®, Lenox®, Parker®, Waterman®,
Rubbermaid®, Contigo®, Calphalon®, Goody®,
Graco®, Aprica®, Baby Jogger®, and Dymo®.
As part of the company’s Growth Game Plan, Newell Rubbermaid is making
sharper portfolio choices and investing in new marketing and innovation
to accelerate performance.
This press release and additional information about Newell Rubbermaid
are available on the company’s Web site, www.newellrubbermaid.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking information based on
management’s current views and assumptions regarding the anticipated
benefits of the transaction, including the financial contribution of
Elmer’s to the Company’s financial results, and the Company’s expected
investments in the Elmer’s business. Actual events may differ
materially. Factors that may affect actual results include, but are not
limited to, the ability of the Company to integrate the Elmer’s business
with the Company’s existing businesses and realize the expected
financial results and accretive effect of the transaction, and reaction
of the Company’s customers, competitors, suppliers and employees to the
transaction. 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 the risk factors set
forth in Exhibit 99.1 thereto, for other factors that could affect our
business.
1 “Krazy Glue” is a registered trademark of Toagosei Co.
Ltd., used with permission.
Contacts
Newell Rubbermaid Inc.
Nancy O’Donnell, 770-418-7723
Vice
President, Investor Relations
or
Newell Rubbermaid Inc.
Racquel
White, 770-418-7643
Vice President, Global Communications
