ATLANTA, Oct. 22, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NYSE:NWL) today completed its acquisition of the assets of bubba brands, inc. ("bubba"), a wholly owned subsidiary of In Zone Holdings, Inc., for a purchase price of $83 million, subject to customary working capital adjustments. A leading designer and marketer of durable beverage containers, bubba is expected to deliver over $50 million of net sales in 2014. The acquisition is expected to be accretive to Newell Rubbermaid's net sales growth rate, normalized operating income margin and normalized EPS within the first year.
"We are pleased to welcome bubba to the Newell Rubbermaid family. We look forward to leveraging this innovative brand, in combination with the Contigo®, Avex® and Rubbermaid® brands, to further strengthen our leadership position in the fast-growing durable beverage container market and bolster our growth agenda as we drive our Growth Game Plan strategy into action," said Newell Rubbermaid President and CEO Michael Polk.
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®, Contigo®, 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.
About In Zone Holdings, Inc. and bubba brands
In Zone Holdings, Inc. is the parent company to Atlanta-based bubba brands and healthy children's beverage company good2grow (www.good2grow.com). bubba brands was founded in 1997 with a singular commitment: to make drinkware that people love. Beginning with its first product, the bubba keg, the line expanded to include mugs, tumblers, sport bottles, sport jugs and kids drink bottles. bubba brands is a leader in the thermal and hydration beverageware category and its products are widely available through national retailers, sporting goods, specialty stores and direct-to-consumer. For more information, visit www.bubbabrands.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 bubba's financial contribution to the Company's financial results, and the Company's expected investments in the bubba 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 bubba 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.