Wednesday May 24, 9:57 am Eastern Time
Company Press Release
SOURCE: Newell Rubbermaid Inc.
Newell Rubbermaid Signs Definitive Agreement to Acquire Brio Further Strengthens Picture Frame and Photo Album Position in Europe
FREEPORT, Ill., May 24 /PRNewswire/ -- Newell Rubbermaid Inc. (NYSE: NWL; CHX) announced today that it has entered into an agreement to acquire Brio, a leading French manufacturer of picture frames and the leading supplier of picture frames to the DIY market in France. The transaction is expected to close within the next thirty days.
Brio, with revenues for fiscal year end August 1999 of FFr 151 million (approximately US$ 21 million), is currently owned by Larson-Juhl International, LLC. Terms of the agreement were not disclosed.
``The acquisition of Brio, in addition to our acquisitions of Ceanothe and Mersch, further strengthens our picture frame and album offering and expands our channels of distribution in Europe,'' stated John J. McDonough, Newell Rubbermaid's Vice Chairman and CEO. ``We now have the leading position in the mass market and DIY channels of trade in France.''
The statements contained in this press release that are not historical in nature are forward-looking statements. Forward-looking statements are not guarantees since there are inherent difficulties in predicting future results, and actual results could differ materially from those expressed or implied in the forward-looking statements. For a list of major factors that could cause actual results to differ materially from those projected, refer to the Newell Rubbermaid's 1999 Form 10-K, Exhibit 99, filed with the Securities and Exchange Commission.
Based in Freeport, Illinois, Newell Rubbermaid Inc. is a multi-national manufacturer and marketer of high-volume, long life cycle, branded, consumer products sold to volume purchasers for everyday use in the home or office, with 1999 sales of $6.4 billion. Newell Rubbermaid products are sold through a variety of retail and wholesale distribution channels in the following business segments: Plastic Storage & Organization, including Rubbermaid© and Curver© home products, Goody© hair accessories and Rubbermaid Commercial Products(TM); Food Preparation, Cooking & Serving, including Mirro© and Calphalon© cookware, and Anchor Hocking© and Pyrex© (Europe) glassware; Infant/Juvenile Care & Play, including Little Tikes©, Graco© and Century©; Home Decor, including Levolor©, Kirsch©, Gardinia© and Newell Window Furnishings(TM) drapery hardware and window treatments and Intercraft©, Burnes©, Panodia©, Albadecor©, and Holson© picture frames and photo albums; Hardware & Tools, including Amerock©, EZ Paintr©, BernzOmatic©, Bulldog© and Lee Rowan©; and Office Products, including Sanford©, Berol©, Sharpie©, Rotring© and Reynolds© markers and writing instruments, Cosmolab© personal cosmetic coloring instruments and Rolodex© and Eldon© office storage and organization products.
This press release is available on our web site at www.newellco.com .
SOURCE: Newell Rubbermaid Inc.
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