Newell Rubbermaid to trim its portfolio
Newell Rubbermaid has announced its intention to sell its Hardware and Teach Platform businesses -- the Bulldog, Shurline, Ashland and Amerock brands, the drapery hardware business, and Mimio.
“These are good businesses run by talented people but they do not fit with our strategy,” said CEO Michael Polk.
In 2012, the Hardware and Teach Platform represented net sales of more than $300 million. Newell’s Irwin Tools brand is not part of the group up for sale.
The company announced its plan as part of its first-quarter earnings statement, which showed net sales in the first quarter of $1.24 billion, a decline of 0.8%.