Edition:
India

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


Monday, 12 Dec 2016 

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.