Newell Brands sold wood products and other businesses to Royal Oak Enterprises, which says it will close the Cloquet, Minnesota plant that produces Diamond matches.
Portable tools giant Stanley Black & Decker is buying the tooling business of Newell Brands, including Lenox and Irwin industrial cutting, hand and power tools, for $1.95 billion in cash. The transaction is expected to close in the first half of 2017.
Home storage, tool and consumer products giant Newell Rubbermaid has entered into an agreement with Jarden Corp. which will combine the two into a $16 billion company to be named Newell Brands. Subject to shareholder and regulatory approval, the transaction is expected to close in the second quarter of 2016.
Many U.S. wood industry firms are among the creditors in Furniture Brands bankruptcy, the most viewed wood industry report.The parent of Thomasville, Broyhill and Lane will come out stronger when creditors and the courts complete their process.