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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