Newell announces sale of its Goody hairstyling unit

Newell Brands Inc. has signed a definitive agreement to sell its Goody Products Inc. unit, a maker of hairstyling tools and accessories, it announced recently.

The Hoboken-based consumer goods company said in a news release that it will sell Goody Products to a fund managed by ACON Investments LLC, a Washington, D.C.-based private equity firm. Financial terms were not disclosed.

It is the the latest move by Newell, which has been focusing its portfolio on core brands.

The deal is expected to close within about 30 days, subject to customary conditionis and approvals.

Baird acted as Newell’s financial advser.

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