Newell Brands, the company that bought/merged with Jarden Corp (parent of K2 Sports/Ride Snowboards) and spawned all those “Rubbermaid snowboard” jokes back in December 2015, has announced that it plans to divest itself of “some businesses” that generate “$250 million to $300 million in annual revenue,” according to story on Sporting Goods Business Online.
Newell Brands has not said what businesses it plans to exit, but some speculate it will divest winter sports brands picked up April 15, when it closed its acquisition and merger with Jarden Corp. . . “Ideally I would like to sell these assets versus simply walking away from them,” company CEO Michael Polk told his audience Thursday. “Some of them are the kinds of businesses that would be difficult to sell and therefore, we should just shut down because they create no value for you and they are a distraction for us.”
Hmmm, companies that “create no value” and are “a distraction?” Wonder which “winter sports brands” people are speculating about? Could it be K2 Sports? Guess we’ll all have to wait and see.
[Link: SGB Online]
