ATLANTA, Sept. 4, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NYSE:NWL) today completed its acquisition of Ignite Holdings, LLC from North Castle Partners and its co-investors. Ignite, a leading designer and marketer of durable beverage containers sold under the Contigo® and Avex® brands, is expected to deliver more than $125 million of net sales in 2014. The acquisition is expected to be accretive to Newell Rubbermaid's growth rate, normalized operating income margin and normalized EPS in the first year. Newell Rubbermaid plans to reinvest a portion of Ignite's profitability to more aggressively build the Contigo and Avex brands.
"We are excited to welcome the Ignite team to Newell Rubbermaid, and we are confident that the addition of the Contigo and Avex brands will accelerate sales growth and further strengthen our commitment to creating a brand and innovation led company, famous for design and product performance," said Michael Polk, Newell Rubbermaid President and CEO.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2013 sales of $5.7 billion and a strong portfolio of leading brands, including Sharpie®, Paper Mate®, Rubbermaid Commercial Products®, Irwin®, Lenox®, Parker®, Waterman®, Rubbermaid®, Levolor®, Calphalon®, Goody®, Graco®, Aprica® and Dymo®. As part of the company's Growth Game Plan, Newell Rubbermaid is making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.
This press release and additional information about Newell Rubbermaid are available on the company's Web site, www.newellrubbermaid.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking information based on management's current views and assumptions regarding the anticipated benefits of the transaction, including Ignite's financial contribution to the Company's financial results, and the Company's expected investments in the Ignite business. Actual events may differ materially. Factors that may affect actual results include, but are not limited to, the ability of the Company to integrate the Ignite business with the Company's existing businesses and realize the expected financial results and accretive effect of the transaction, and reaction of the Company's customers, competitors, suppliers and employees to the transaction. Please refer to the cautionary statements set forth in the "Forward-Looking Statements" section of the Company's most recently filed Quarterly Report on Form 10-Q as well as the risk factors set forth in Exhibit 99.1 thereto, for other factors that could affect our business.