Newell Brands

Last updated

Newell Brands Inc.
Formerly
    • Newell Company (1903–1999)
    • Newell Rubbermaid (1999–2016)
Company type Public
Industry Consumer goods
Founded1903;121 years ago (1903), in Ogdensburg, New York, U.S.
FounderEdgar Newell
Headquarters,
U.S.
Area served
Worldwide
Key people
Products
Brands
List
RevenueDecrease2.svg US$8.13 billion (2023)
Decrease2.svgUS$−85 million (2023)
Decrease2.svgUS$−388 million (2023)
Total assets Decrease2.svgUS$12.2 billion (2023)
Total equity Decrease2.svgUS$3.11 billion (2023)
Owners
Number of employees
c.24,600 (2023)
Divisions Newell Custom Writing
Website newellbrands.com
Footnotes /references
[1] [2] [3]

Newell Brands Inc. is an American manufacturer, marketer and distributor of consumer and commercial products. The company's brands and products include Rubbermaid storage and trash containers; home organization and reusable container products; Contigo and Bubba water bottles; Coleman outdoor products; writing instruments (Berol, Expo Markers, PaperMate, Dymo, Mr. Sketch, Parker Pens, Sharpie, Reynolds, Prismacolor, Rotring, X-acto, Waterman) glue (Elmer's, Krazy Glue); children's products (Aprica, NUK, Tigex, Babysun, Baby Jogger and Graco); cookware and small appliances (Calphalon, Sunbeam, Rival, Crock-Pot; Holmes, FoodSaver, Oster, Osterizer, and Mr. Coffee) and fragrance products (Yankee Candle, Chesapeake Bay Candle, Millefiori Milano, and WoodWick).

Contents

The company's global headquarters is in Atlanta. [4]

History

Newell Company

First Newell logo Newell logo from the 1900s.jpg
First Newell logo

The Newell Manufacturing Company was founded by Edgar Newell in Ogdensburg, New York, in 1903 as a manufacturer of metal curtain rods. [5] [6]

The F. W. Woolworth retail chain became the first customer for Newell's bronzeplated curtain rods in 1916, making them the first Newell products to be distributed nationally. This marked the beginning of Newell's mass merchandising strategy. As the business grew, the company built a new 15,000-square-foot facility in Ogdensburg, New York.

The company purchased Barnwell Mfg. Co. of Freeport, Illinois in 1921, renaming it Western Newell Manufacturing Company. Freeport's access to railroad lines facilitated shipping products west. Kresge, the department store chain (later Kmart) was one of Western Newell's larger accounts.[ citation needed ]

Daniel C. Ferguson was named president in 1965 and developed a growth-by-acquisition strategy, intending to build a strong, multi-product company.

The Newell Company went public in 1972, opening on the NASDAQ at $28 per share. In 1974, they acquired EZ Paintr Corporation, then the world's largest maker of paint applicators. Newell was listed on the New York Stock Exchange with the ticker symbol NWL in 1979. [7] In 1979, Newell moved into its first corporate headquarters in a historic former bank building in Freeport, Illinois.

In 1983, the company entered the cookware market with the purchase of Mirro. In 1987, the company acquired Anchor Hocking Corporation, a specialty manufacturer of glassware, flatware, cookware and other products. The deal included the purchase of Amerock, a maker of cabinet hardware and window components. [8]

In 1992, they acquired Sanford, a manufacturer and marketer of writing instruments, including the Sharpie and Expo brands. A year later, they acquired Levolor, a manufacturer and marketer of window treatments. They also entered the beauty and style category by acquiring Goody hair care accessories, [9] including Ace men's grooming accessories.They also acquired Stuart Hall a Kansas City stationary company which they held until 1998. [10] [11]

In 1997, Newell acquired Cooper Industries' Kirsch, a company specializing in drapery hardware, and custom window coverings. [12] In 1998, the company expanded in cookware with the purchase of Calphalon Corporation, [13] a manufacturer of cookware marketed primarily to upscale retailers and department stores. The company also purchased Panex, a cookware maker in South America.

In 2016, Newell moved its corporate headquarters from Atlanta to Hoboken, New Jersey. In 2019, it returned to Atlanta. [14]

Criticism

Newell Rubbermaid has been criticized in the UK for closing British factories, including those of Parker Pen, and relocating them to Nantes, France, and China. [15] Similarly, they have been criticized for their handling of Toolmakers Berol, Record and Marples. [16]

Newell Sistema products has been criticized for requiring workers in their Auckland, New Zealand, factory to work in unsafe conditions during the COVID-19 outbreak and lock down without adequate distances between workers and proper personal protective equipment. After a WorkSafe NZ visit, workers were told they would not have to go to work and would be on full pay for the four week lock down. [17]

Mergers

Rubbermaid

Newell Rubbermaid logo used from 1999 to 2016 Newell Rubbermaid logo.svg
Newell Rubbermaid logo used from 1999 to 2016

In 1999, Newell acquired the Rubbermaid and Graco brand names in a megamerger worth $5.8 billion, and later renamed the combined firm Newell Rubbermaid. This was an acquisition ten times larger than the last biggest acquisition Newell had made, nearly doubled the company's size, and significantly increased Newell's portfolio of brands.[ citation needed ]

In 2003, the merger was dubbed the "merger from hell" by Businessweek magazine. [18] Newell shareholders lost 50% of their value in the two years following the closing and Rubbermaid shareholders lost 35%. In 2002, Newell wrote off $500 million in goodwill.[ citation needed ]

Other mergers

In 2000, Newell Rubbermaid acquired Gillette's stationery products business, including the Paper Mate, Parker, Waterman and Liquid Paper brands.

In 2002, they acquired American Tool Companies, adding the Irwin, Vise-Grip, and Marathon brands to their portfolio.

In 2003, Newell Rubbermaid acquired American Saw and Manufacturing Company, a manufacturer of linear-edge power tool accessories, hand tools, and band saw blades marketed under the Lenox brand.

In 2005, the company acquired DYMO, designing, manufacturing, and marketing on-demand labeling solutions. The company expanded its presence in this market with the 2006 purchases of CardScan business card scanners and Mimio interactive whiteboard products along with the 2007 acquisition of postage company Endicia and its Picture-it-Postage brand. In 2005, Mark Ketchum was named president and CEO. The company added the slogan of "Brands That Matter" to their logo to emphasize the change.[ citation needed ]

In February 2008, Newell Rubbermaid acquired Aprica Kassai, a Japanese maker of strollers, car seats, and other children's products and Technical Concepts, in the away-from-home restroom[ clarification needed ] market. The company created a global headquarters in the Atlanta metropolitan area to consolidate numerous brands and functions under one roof. In July 2011, Michael B. Polk joined the company as president and CEO. [19]

On July 21, 2014, Newell Rubbermaid announced a $308 million acquisition of Ignite Holdings, a Chicago-based maker of reusable water bottles and thermal mugs. [20] Ignite sold its products under two brand names: Avex and Contigo, also acquiring Ignite's proprietary closing mechanism, Autoseal. [21]

On October 5, 2015, Newell Rubbermaid announced that it would acquire Elmer's Products, the makers of Elmer's glue, Krazy Glue, and X-Acto, among other brands, for $600 million. The company also announced plans to divest its window covering brands Levolor and Kirsch. [22]

On December 14, 2015, Newell Rubbermaid announced that it would acquire Jarden for over $15 billion of cash and stock. The combined company would be known as Newell Brands, and 55% would be owned by Newell's shareholders. The combined company would have estimated annual sales of $16 billion. [23] [24]

Divestitures

In 2014 Newell Rubbermaid sold Ashland Hardware Systems, Bulldog and Shurline.

In 2017, Newell sold K2 Sports, Völkl, Diamond Match Company, Levolor and Kirsch.

In January 2018, Newell announced that it would sell off several businesses, mostly former Jarden units, in a refocusing effort. [25] In May 2018, Newell sold Waddington to Novolex. [26] In June 2018, Newell sold Rawlings to Seidler Equity Partners. [27] In August 2018, Newell sold Goody to ACON Investments. [28] In November 2018, Newell sold its Pure Fishing line of business to Sycamore Partners for $1.3 billion and Jostens to Platinum Equity for $1.3 billion. [29]

In June 2019, Newell Brands announced the sale of the United States Playing Card Company to Belgian card manufacturer Cartamundi Group. [30] [31]

Brands

Newell's brands include the following. [32]

Outdoor & Recreation

Writing (stationery)

Former brands

Notes
  1. As of 2022, the Sunbeam brand is focused almost entirely on health and thermal pain relief products, as well as clothes irons. [33]
  2. sold to Cartamundi in 2019.
  3. sold to ACON Investments, LLC. in 2018.
  4. Newell Brands tool brands were sold to Stanley Black & Decker in 2016 for $1.95 billion.
  5. sold to MGA Entertainment in 2006.

Related Research Articles

Sunbeam Products is an American company founded in 1897 that has produced electric home appliances under the Sunbeam name since 1910. Its products have included the Mixmaster mixer, the Sunbeam CG waffle iron, Coffeemaster (1938–1964) and the fully automatic T20 toaster.

<span class="mw-page-title-main">Rubbermaid</span> American manufacturer and distributor of household items

Rubbermaid is an American manufacturer and distributor of household items. A subsidiary of Newell Brands, it is best known for producing food storage containers and trash cans. It also produces sheds, step stools, closets and shelving, laundry baskets, bins, air fresheners and other household items.

Sharpie is a brand of writing implements manufactured by Newell Brands, a public company headquartered in Atlanta, Georgia. Originally designating a single permanent marker, the Sharpie brand has been widely expanded and can now be found on a variety of previously unrelated permanent and non-permanent pens and markers formerly marketed under other brands. This article focuses on the legacy Sharpie permanent marker line.

<span class="mw-page-title-main">Yankee Candle</span> American manufacturer and retailer

The Yankee Candle Company, Inc., doing business as Yankee Candle, is an American manufacturer and retailer of scented candles, candleholders, accessories, and dinnerware. Its products are sold by thousands of gift shops nationwide, through catalogs, and online, and in nearly 50 countries around the world. The company operates just over 260 small-box format stores, located in malls across 43 U.S. states and Ontario, and is the largest candle manufacturer in the United States. The company is headquartered in South Deerfield, Massachusetts.

<span class="mw-page-title-main">Mr. Coffee</span> American coffee machine brand

Mr. Coffee is a brand of automatic drip-brew kitchen coffee machines and other kitchen appliances owned by Newell Brands. Founded in the early 1970s to make a pioneering coffeemaker, Mr. Coffee established itself as the industry's top-selling brand through a promotional relationship with former New York Yankee great Joe DiMaggio, a Major League Baseball Hall of Famer held in high regard by that era's consumers. It subsequently expanded into other kitchen products, such as a related tea maker, juicer, and food dehydrator, and integrated wireless technology into a "smart" version of its coffeemaker. Mr. Coffee is a registered trademark.

<span class="mw-page-title-main">Jarden</span> American consumer products manufacturer

Jarden was an American consumer products company. Formed by the spin out of Ball Corporation's canning business, the company became a wider conglomerate of consumer brands, particularly in the outdoors and home appliances market. Jarden was acquired in 2016 by Newell Rubbermaid, which renamed itself Newell Brands.

<span class="mw-page-title-main">Völkl</span> German sports equipment company

Völkl Ski International, GmbH, is a sports equipment manufacturing company based in Bavaria, Germany. Initially it manufactured skis, but has extended its line to snowboards, outerwear, and tennis gear. Völkl's United States subsidiary is located in Lebanon, New Hampshire along with its wholly owned binding manufacturer, Marker. In 2015 Völkl bought the ski boot manufacturer Dalbello.

<span class="mw-page-title-main">Rawlings (company)</span> American sports equipment company

Rawlings Sporting Goods is an American sports equipment manufacturing company based in Maryland Heights, Missouri. Founded in 1887, Rawlings currently specializes in baseball and softball clothing and equipment, producing gloves, bats, balls, protective gear, batting helmets, uniforms, bags. Footwear includes sneakers, and sandals. The company also sells other accessories such as belts, wallets, and sunglasses. Former products manufactured by Rawlings included American football, basketball, soccer, and volleyball balls.

<span class="mw-page-title-main">Graco (baby products)</span>

Graco Children's Products Inc. is an American baby products company based in High Point, North Carolina. It is owned and operated by Newell Brands. Graco offers products including car seats, travel systems, strollers, high chairs, play yards, and baby swings.

Esselte is a manufacturer and marketer of office products and business supplies with subsidiaries in 25 countries and sales in over 120 countries. Esselte makes files, binders, folders, covers, staplers, letter trays and computer accessories under the Esselte, Leitz, Oxford, Pendaflex, Rapid and Xyron brands. Customers range from wholesalers and direct marketers to office superstores and mass retailers.

ABU Garcia, originally AB Urfabriken, then ABU Svängsta, is a fishing reel and equipment manufacturing company founded in Svängsta, Sweden, and is now owned by Pure Fishing conglomerate of the United States.

Levolor is an American manufacturer of custom window blinds and shades, as well as stock blinds and shades.

<span class="mw-page-title-main">Jostens</span> American memorabilia manufacturer

Jostens is an American manufacturer of memorabilia. The company is primarily known for its production of yearbooks and class rings for various high schools and colleges as well as championship rings for sports. Jostens also produced photobook products for Disney's PhotoPass photography service offered at Disney theme parks and resorts.

First Alert is the retail brand of American safety equipment manufacturer BRK Brands, Inc., established in 1976 and based in Aurora, Illinois, with a production plant in Juarez, Mexico. Products sold with the brand include carbon monoxide detectors, smoke alarms, fire extinguishers, and other safety products like flashlights and fire escape ladders. First Alert supports fire safety in partnership with Safe Kids USA and The United States Fire Administration, providing smoke alarms at reduced cost to low-income families in the United States.

<span class="mw-page-title-main">Diamond Match Company</span>

The Diamond Match Company is a brand of matches and toothpicks, and formerly other wood products and plastic cutlery, that has its roots in a business started in 1853 by Edward Tatnall in Wilmington, Delaware. Ownership passed to William H. Swift and Henry Courtney who operated under the name Swift & Courtney and marketed their product as Diamond State Parlor Matches.

<span class="mw-page-title-main">Little Tikes</span> Manufacturer of childrens toys

Little Tikes is an American manufacturer of children's toys, with headquarters and manufacturing located in Hudson, Ohio. The company also has other manufacturing and distribution facilities in Asia and Europe. Little Tikes' products are mostly low-tech molded plastic toys aimed primarily at infants and young children, for indoor and outdoor use, including its party kitchen and turtle sandbox.

Dymo Corporation is an American manufacturing company of handheld label printers and thermal-transfer printing tape as accessory, embossing tape label makers, and other printers such as CD and DVD labelers and durable medical equipment.

<span class="mw-page-title-main">Rival (consumer products company)</span> American home appliance manufacturer

The Rival Company is an American manufacturer of small appliances that produces products under the Bionaire, Crock-Pot, Fasco, Patton, Pollenex, Rival, Simer, and White Mountain brands. It became a wholly owned subsidiary of Holmes Products Corp. in 1999, and later became a brand of Sunbeam Products, a subsidiary of Jarden Corporation, which purchased Holmes in 2005. Jarden, in turn, merged with Newell Rubbermaid in 2016. It is now part of the Newell Brands company.

White Mountain Products is a brand of ice cream makers in the Sunbeam products division. It is a subsidiary of Newell Brands.

Newell Custom Writing Instruments is an American manufacturing company of stationery products. It is a division of Newell Brands, producing writing implements, in its plant of Atlanta, Georgia.

References

  1. "Newell Brands 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 21, 2024.
  2. "SEC Proxy Statement". U.S. Securities and Exchange Commission. April 5, 2023.
  3. Terlep, Sharon (February 10, 2023). "Newell Brands Slashes Profit Targets, Changes CEOs". Wall Street Journal. Retrieved June 2, 2023.
  4. "Form 8K". SEC.gov. US SECURITIES AND EXCHANGE COMMISSION. May 23, 2023. Retrieved June 2, 2023.
  5. Deutsch, Claudia (March 20, 2004). "After Buying Rubbermaid, a Deluge of Sorts". New York Times. p. C1. Retrieved June 7, 2023. Newell, which started as a manufacturer of curtain rods in 1902
  6. "Newell Rubbermaid Inc. - Company Profile, Information, Business Description, History, Background Information on Newell Rubbermaid Inc". GABlind.com. GA Blind Company. Retrieved June 7, 2023.
  7. "Three New Listings Set by Big Board This Week". Wall Street Journal. June 25, 1979. p. 37. Newell Cos. starts trading Thursday with the symbol NWL
  8. Gary, Alex (August 15, 2013). "Newell Rubbermaid sells Amerock". Rockford Register Star. USA TODAY Network. Retrieved June 7, 2023. The Aldeens owned the company until 1966 when they sold it to Stanley Works for $32 million. Stanley sold it to Anchor-Hocking in 1975 and then Anchor-Hocking sold it to Newell in 1987.
  9. "Newell to Buy Goody for $24.75 a Share or About $165 Million". Wall Street Journal. Dow Jones Corp. June 15, 1993. p. B4. Newell continued its growth-through-acquisition strategy
  10. "COMPANY NEWS: PEN-TAB HOLDINGS TO BUY NEWELL'S STUART HALL UNIT". New York Times. June 26, 1998. p. D3. Retrieved June 7, 2023.
  11. Storch, Charles (April 9, 1992). "Newell plans to add Stuart Hall to Stable". The Chicago Tribune. Retrieved June 7, 2023.
  12. "NEWELL TO BUY COOPER'S DRAPERY DIVISION". New York Times. Bloomberg News. January 31, 1997. p. D3. Retrieved June 8, 2023. Kirsch, based in Sturgis, Mich., makes drapery rods and window shades and blinds.
  13. "COMPANY NEWS; NEWELL IN STOCK SWAP WITH COOKWARE MAKER, CALPHALON". No. April 1, 1998. New York Times. Dow Jones. p. D4. Retrieved June 9, 2023.
  14. Trubey, J. Scott (August 2, 2019). "Sharpie and Calphalon parent Newell Brands moving back to Atlanta area". The Atlanta Journal-Constitution. Retrieved June 2, 2023.
  15. Fischier, Tony (June 4, 2009). "A rendezvous with History A visit to the legendary Parker Archives". parkerpens.net. Parker Pens Archives. Retrieved October 14, 2017.
  16. Duke, Te (March 28, 2013). "Vanished Tool Makers: William Marples & Sons, Sheffield, England". Progress is fine, but it's gone on for too long. Retrieved October 14, 2017.
  17. Foxcroft, Debrin. "Coronavirus: Walkout works as Sistema workers get time off". Stuff. Stuff. Retrieved March 27, 2020.
  18. "Newell Rubbermaid: Why It'll Bounce Back". Business Week. October 19, 2003. Archived from the original on October 13, 2014. Retrieved July 22, 2014.
  19. Kass, Arielle (June 24, 2011). "Newell Rubbermaid names new CEO". Atlanta Journal-Constitution. Retrieved October 24, 2013.
  20. Ng, Serena (July 21, 2014). "Newell Rubbermaid to Buy Maker of Reusable Water Bottles" . Retrieved July 21, 2014.
  21. Elahi, @aminamania, Amina. "Newell Rubbermaid to acquire Chicago water bottle maker Ignite for $308 million". chicagotribune.com. Retrieved August 18, 2020.
  22. "Newell Rubbermaid to Buy Maker of Elmer's Glue for $600 Million". Wall Street Journal. Retrieved October 5, 2015.
  23. "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved December 14, 2015.
  24. "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved December 14, 2015.
  25. Sheetz, Lauren Hirsch, Michael (January 25, 2018). "Newell Brands stock craters 20%, unveils plans to sell off assets". CNBC . Retrieved November 25, 2018.{{cite web}}: CS1 maint: multiple names: authors list (link)
  26. "Newell Brands Announces Agreement to Sell The Waddington Group to Novolex". Archived from the original on November 26, 2018. Retrieved November 25, 2018.
  27. "Newell Brands Announces Agreement to Sell Rawlings Sporting Goods Company, Inc. to Seidler Equity Partners" . Retrieved November 25, 2018.
  28. "Newell Brands Declares Dividend on Common Stock and Announces Agreement to Sell Goody Products, Inc. to ACON Investments". Archived from the original on November 26, 2018. Retrieved November 25, 2018.
  29. "Newell Brands Completes Divestitures of Pure Fishing and Jostens" . Retrieved November 25, 2018.
  30. "Newell Brands Announces Agreement to Sell The United States Playing Card Company to Cartamundi Group". Newell Brands. June 4, 2019. Retrieved June 5, 2019.
  31. "Cartamundi to acquire The United States Playing Card Company". Cartamundi. June 4, 2019. Retrieved June 5, 2019.
  32. "Our Brands".
  33. "Sunbeam Home Home".
  34. 1 2 "Newell - Healthy Canning". Healthy Canning. Retrieved April 1, 2018.