Newell Brands Announces Definitive Agreement to Sell Fire Starter and Fire Log Business

Newell Brands Inc. announced that it has signed a definitive agreement to sell its Pine Mountain® fire starters and fire logs business as well as its Diamond® matches, fire starters, lighters, toothpicks, clothespins and clotheslines business to Royal Oak Enterprises LLC, a leading manufacturer of charcoal and grilling products. Martin E. Franklin and Ian G. H. Ashken, members of Newell Brands’ Board of Directors, are affiliates of Royal Oak. Newell Brands will retain Diamond branded plastic cutlery products. The transaction is expected to close in the second quarter of 2017, subject to customary closing conditions. Terms were not disclosed.

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