Newell Rubbermaid Inc.
said it was selling its Levolor and Kirsch window coverings brands, known as its Decor business, to privately-held Hunter Douglas for $270 million. Newell plans to use the proceeds from the deal, which is expected to close this year, to pay down debt. “The announced sale of our Décor business further strengthens our portfolio as we focus our investment behind our highest-potential global growth opportunities,” said Newell Chief Executive Michael Polk. The stock, which was still inactive in premarket trade, had lost 4.4% year to date, while the S&P 500 has slipped 0.8%.
View more information: https://www.marketwatch.com/story/newell-rubbermaid-to-sell-levolor-kirsch-window-coverings-brands-to-hunter-douglas-2016-03-17