May 4, 2018 / 10:25 AM / a year ago

Newell to sell Waddington to Carlyle's Novolex for $2.3 billion

May 4 (Reuters) - Newell Brands Inc said on Friday it would sell its packaging business Waddington Group to Novolex Holdings, a company owned by buyout firm Carlyle Group LP , for about $2.3 billion.

Newell said earlier this year it would explore options for some of its assets, a move that would help boost sales, with retailers cutting down on inventories as footfalls decline.

Earlier this week, Reuters, citing sources, had reported about the Waddington deal. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)

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