ATLANTA - Newell Brands - which owns Irwin Tools and dealer-channel Rubbermaid Closets - now plans to relocate its headquarters from Atlanta to Hoboken, New Jersey.
Newell, a $16 billion firm, is digesting the April 15 acquisition of consumer goods firm Jarden for $15 billion, following which it excised Rubbermaid from its name. It trades on the New York Stock Exchange as NWL.
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ARTICLE Newell Rubbermaid's $6 Million Michigan Design Center Closet and storage system manufacturer Newell Rubbermaid says its Kalamazoo, MI, product design center is on track to open, despite the sale of its Amerock hardware business. |
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In addition to establishing its new global headquarters in Hoboken, New Jersey, Newell Brands says it will also invest in creating a second hub for advanced design, also expanding its e-Commerce activities to serve the new larger company at that same location.
Rubbermaid Closets sold through professional channels
“Our new headquarters will serve as an important business hub for our executive team, certain corporate functions and the company’s Transformation Office," says CEO Michael Polk. "It will also enable us to continue expanding our global e-Commerce and Design teams."
Irwin makes hand tools and cutting blades.
“Our choice to locate these capabilities in our new headquarters represents our commitment to scaling these strategic growth drivers for the size and potential of our new company," Polk says. "Our new location will unlock tremendous access to talent in these areas as we build a new future together.”
The New Jersey Economic Development Authority structured a $27 million tax incentive package to help offset the costs associated with the new facility. Newell Brands expects the build out to be ready for occupancy in this fall. Newell Brands will continue to maintain its current business hubs in Atlanta, Boca Raton and Norwalk, as well as its design center in Kalamazoo, Michigan.
Rubbermaid home organization products
Newell Brands portfolio, which includes consumer products like Graco and Coleman, also includes professional grades of Elmer’s Glue, used by woodworkers; and Irwin clamps, saw blades, cutting tools and accessories.
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