Newell Brands announced Friday it has completed its divestitures of two units: The Waddington Group and Rawlings Sporting Goods Co.
The previously announced deals are part of the Hoboken-based company’s Accelerated Transformation Plan, designed to focus the consumer goods business’s portfolio of leading brands.
Novolex Holdings LLC bought The Waddington Group, which offers packaging products such as Eco-Products, Polar Pak and more.
A fund managed by Seidler Equity Partners, in conjunction with Major League Baseball, bought Rawlings, which makes products such as Rawlings, Miken and Worth.
The overall gross proceeds from the deals were about $2.7 billion, Newell said.
Read more from ROI-NJ:
- MLB buys Rawlings from Newell: Who is it going to blame for juiced baseballs?
- Newell continues changes with $2.3B sale of packaging unit
- Newell Brands speeding up transformation