Newell Brands Inc. (NYSE: NWL) has agreed to buy food container maker Sistema Plastics and candle producer Smith Mountain Industries for a combined $570 million. The acquisitions are part of Newell’s Growth Game Plan strategy to reshape its portfolio through M&A in order to focus on core business lines. Newell won Mergers & Acquisitions’ 2015 M&A Mid-Market Award for Strategic Buyer of the Year.
Sistema, based in Auckland, New Zealand, makes food storage containers under the Sistema brand, and has about $145 million in annual sales. The target will expand Newell’s international presence into regions including: Austria, Belgium, Croatia, Denmark, Germany and New Zealand. Newell is paying $470 million for Sistema.