Newell Brands sells Rubbermaid business to United Solutions

Rubbermaid consumer storage totes business generated annual sales of approximately $70 million

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BS B2B Bureau Hoboken, New Jersey (USA)

Last Updated : Jan 18 2017 | 2:41 PM IST

As part of its strategy to simplify and strengthen its portfolio, Newell Brands Inc has sold its Rubbermaid consumer storage totes business to United Solutions, a leading supplier of plastic products for the home and office.

In conjunction with the sale, the parties will enter into a five-year licensing agreement for use of the Rubbermaid brand name. While financial terms of the agreement were not disclosed, the Rubbermaid consumer storage business represents approximately $70 million in annual sales.