Newell Brands Announces Agreement to Sell The United States Playing Card Company to Cartamundi Group
June 04 2019 - 04:15PM
Business Wire
Newell Brands (NASDAQ:NWL) continues to make progress on its
Accelerated Transformation Plan, designed to create a simpler,
faster, stronger consumer-focused portfolio of leading brands, and
today announced that it has signed a definitive agreement to sell
The United States Playing Card Company (“USPC”) to Cartamundi
Group, a leading manufacturer and distributor of playing cards and
board games.
USPC, based in Erlanger, KY is the leader in the production and
distribution of premier brands of playing cards, including
BICYCLE®, BEE®, AVIATOR®, HOYLE®, and FOURNIER®. In 2018 net sales
for USPC were approximately $112 million.
Citi acted as financial advisor to Newell Brands on the USPC
transaction. It is expected to close in the second half of 2019,
subject to customary closing conditions, including regulatory
approvals.
About Newell Brands
Newell Brands (NASDAQ:NWL) is a leading global consumer goods
company with a strong portfolio of well-known brands, including
Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®,
Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Graco®, Baby
Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and
Yankee Candle®. For hundreds of millions of consumers, Newell
Brands makes life better every day, where they live, learn, work
and play.
This press release and additional information about Newell
Brands are available on the company’s website,
www.newellbrands.com.
About Cartamundi Group
Cartamundi is Latin for “Cards for the World”. With a history
dating back to 1765, today Cartamundi is a leading manufacturer of
playing cards, card games and board games. With a network of owned
sales offices, 11 state-of-the-art manufacturing plants and an over
2,200 people strong workforce, Cartamundi is a prominent and
growing supplier to the global entertainment market.
Forward-Looking
Statements
This news release contains forward-looking information based on
management's current views and assumptions, including statements
regarding the expected timeframe for closing of the USPC
transaction. Actual results and events may differ materially from
those described in the forward-looking statements above. Please
refer to the cautionary statements set forth in the
"Forward-Looking Statements" section and under the caption “Risk
Factors” in Newell Brands’ Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q for other factors that could affect our
business.
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version on businesswire.com: https://www.businesswire.com/news/home/20190604006045/en/
Investors:Nancy O’DonnellSVP, Investor Relations and
Communications+1 (201) 610-6857nancy.odonnell@newellco.com
Media:Claire-Aude StaraciDirector, External
Communications+1 (201) 610-6717claireaude.staraci@newellco.com
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