Newell Brands Inc (NWL)

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Newell Rubbermaid Completes Sale of Endicia Online Shipping Business to Stamps.com



Newell Rubbermaid Inc. 4 hours ago


ATLANTA--(BUSINESS WIRE)


Newell Rubbermaid Inc. (NWL) today announced it has closed the sale of Endicia, a developer of global online shipping solutions, to Stamps.com, a leading provider of online postage solutions based in El Segundo, CA. The transaction was first announced on March 24.

Gross proceeds from the transaction were approximately $215 million. The company expects to receive after-tax cash proceeds of approximately $150 million.

“This transaction further simplifies our portfolio as we remain focused on strengthening our core business and investing behind our highest-potential global growth opportunities,” said Michael Polk, Newell Rubbermaid President and Chief Executive Officer. “We believe Endicia, while not core to our strategy, is a great strategic fit with an owner who shares its commitment to innovating and competing in the mailing and shipping industry.”

About Newell Rubbermaid

Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2014 sales of $5.7 billion and a strong portfolio of leading brands, including Sharpie®, Paper Mate®, Elmer’s®, Irwin®, Lenox®, Rubbermaid Commercial Products®, Contigo®, Rubbermaid®, Calphalon®, Goody®, Graco®, Aprica®, Baby Jogger®, Dymo®, Parker® and Waterman®. 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.



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