Hoboken-New Jersey-based Newell said that its core sales were hurt by retailers rebalancing their inventories. In other words, they are shrinking the amount of products that are holding in their stores. Newell is going to focus on nine core businesses that will have around $11 billion in sales and $2 billion in Ebitda.
More recently. Newell agreed to buy Chesapeake Bay Candle from its founders for $75 million and completed the sale of the Rubbermaid consumer storage business to United Solutions and sold sells its winter sports unit to Kohlberg & Co. Newell also completed the $100 million acquisition of candle producer Smith Mountain Industries and sold Irwin tools to Stanley Black & Decker Inc. (NYSE: SWK) for $1.95 billion.