uMaker Of Sharpie To Buy Maker Of Crock-Pot For $13B, Creating A Consumer Product Smorgasbordr

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  All of those storage containers, Sharpies, coolers, and crockpots you have dotting the insides of cupboards now have a lot more in common than one might think: Newell Rubbermaid, the company behind Sharpie and Rubbermaid storage products Jarden, the company behind the Coleman and Crock-Pot brands, for $13.2 billion.

  The companies announced the great consumer product merger Monday, noting that it will create a combined company to be dubbed Newell Brands, with an anticipated annual revenue of $16 billion in sales.

  Current Newell Rubbermaid CEO Michael Polk will become CEO of the new company when the proposal closes in mid-2016.

  The deal is expected to allow the company greater innovation and increased exposure both online and in international markets, Newell said in a statement, noting that it will expand its presence specifically in food and beverage, baby products and kitchen appliances.

  “The scale of our combined businesses in key categories, channels and geographies creates a much broader canvas on which to leverage our advantaged set of brand development and commercial capabilities for accelerated growth and margin expansion,” Polk said of the merger.

  Both companies have diversified portfolios, with Jarden producing everything from Rawlings sports equipment, Coleman coolers and camping gear to Yankee Candles and Ball mason jars.

  Likewise, Rubbermaid is the parent company behind brands such as Graco carseats and strollers, Elmer’s glue, Calphalon kitchen products, Goody hair accessories, and Paper Mate pens.

  [via Reuters]

  
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by Ashlee Kieler via Consumerist