Newell to Sell Winter Sports Business for $240 Million

The company's Winter Sports business includes the Full Tilt and Atlas brands.

Author:: Tony Owusu
Publish date:: May 26, 2017 9:16 AM EDT

Consumer goods maker Newell Brands (NWL) - Get Report announced that it is selling its Winter Sports (WSPS) business to private equity firm Kohlberg and Co. with expected gross proceeds to be about $240 million.

The Winter Sports business includes brands like Full Tilt, Madshus and Atlas. Sales from the company's 11 brands totaled $330 million in 2016. Annual adjusted earnings before interest, taxes, depreciation and amortization totaled $25 million in 2016.

Newell also announced that it signed a separate transaction agreement to sell its Zoot and Squadra apparel brands to an undisclosed party.

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