December 12, 2016 / 12:19 PM / 7 months ago

BRIEF-Newell Brands says to buy fast-growing food storage and candle businesses

1 Min Read

Dec 12 (Reuters) - Newell Brands Inc

* Newell brands to acquire fast-growing food storage and candle businesses

* Additionally, company has entered into a definitive agreement to acquire smith mountain industries

* Company expects to complete divestitures in first half of 2017

* Smith mountain deal for $100 million

* Newell brands inc - both deals are expected to be immediately accretive to normalized earnings

* Newell brands inc - deal for nz$660 million

* Newell brands inc - both acquisitions will be funded from cash on hand at time of closing.

* Deal expected to be immediately accretive to normalized earnings

* Newell brands - neither deal expected to draw on u.s.-based net proceeds from planned divestitures which will be used for accelerated debt repaymen

* Newell brands to acquire fast-growing food storage and candle businesses Source text for Eikon: Further company coverage:

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