Newell Brands Inc. released a press statement in response to the apprehension revolving around their previous press release about the sales of their winter sports industry (for more information regarding their winter sports industry news please see K2, Marker, Full Tilt….) Newell wishes to clear the air regarding this sale stating that they intend only to sell their major winter brands, K2 and Dalbello, Marker, Volkl, in an effort to focus on their new development plan and should they receive the right offer or buyer.
“The reasons for streamlining the portfolio are not due to the economical development of these renowned and rich in tradition winter sport specialists, but in a changed focus of Newell with the goal to build a strong and pioneering company in the consumer goods industry.”
-Newell Brands Inc. Press Statement
The plan involves paring down to 16 from their 32 joint businesses between Newell and Jarden, in order to have a more focused model to build and grow the brands with the most room in their respective industries to do so. In the winter sports industry scenario, Newell Brands does not appear to believe that there is a strong enough strategy for this industry to pair with their new development plan. They do not intend to dismantle or simply close Marker, Dalbello, Volkl and K2 (which includes Line Skis, Backcountry Access, and Fulltilt boots amongst other major brands), but would sell them whole should the right prospective buyer make an offer.
“Newell will keep both companies, if no suitable buyer is found.”
-Newell Brands Inc. Press Statement
On the bright side, Newell Brands Inc. does state that all businesses involved will continue production and sales of their goods as well as retain investments for future merchandise.
