Newell Rubbermaid Acquires Gillette's Stationery Products Business
FREEPORT, Ill., Jan 2, 2001 /PRNewswire via COMTEX/ -- Newell Rubbermaid Inc. (NYSE: NWL chart, msgs) and The Gillette Company (NYSE: G chart, msgs) announced today Newell Rubbermaid acquired Gillette's stationery products business effective December 29, 2000, which includes the Paper Mate(R), Parker(R), Waterman(R) and Liquid Paper(R) brands. Under the terms of the agreement, Newell Rubbermaid purchased a substantial portion of the assets of the business and some of the liabilities. Other terms of the agreement were not disclosed.
"This acquisition is a great strategic fit and we are excited about the opportunity to leverage these highly recognized brands," stated William P. Sovey, Newell Rubbermaid's Vice Chairman and Chief Executive Officer. "The strong international presence of these brands further broadens Sanford's existing product offering and optimizes our global distribution channels."
Edward F. DeGraan, The Gillette Company's acting Chief Executive Officer, said, "Newell Rubbermaid will ensure that the full potential of these quality brands is realized. I thank all of our stationery products employees for their dedicated efforts through the years in support of this business."
For further details regarding the acquisition and its expected positive financial impact on Newell Rubbermaid, please visit the Investor Relations section of Newell Rubbermaid's website at www.newellco.com .
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: Storage, Organization & Cleaning, including Rubbermaid(R) and Curver(R) home products, Goody(R) hair accessories and Rubbermaid Commercial Products(TM); Food Preparation, Cooking & Serving, including Mirro(R) and Calphalon(R) cookware, Anchor Hocking(R) and Pyrex(R) (Europe) glassware; Infant/Juvenile Care & Play, including Little Tikes(R), Graco(R) and Century(R); Home Decor, including Levolor(R), Kirsch(R), Newell(R) and Gardinia(R) Window Furnishings and Intercraft(R), Burnes(R), Panodia(R), Albadecor(R), and Holson(R) picture frames and photo albums; Hardware & Tools, including Amerock(R), EZ Paintr(R), BernzOmatic(R), and Lee Rowan(R); and Office Products, including Sanford(R), Berol(R), Sharpie(R), Rotring(R), Reynolds(R), Paper Mate(R), Parker(R), and Waterman(R) markers and writing instruments, Rolodex(R) and Eldon(R) office storage and organization products and Liquid Paper(R) correction fluids.
Headquartered in Boston, Mass., The Gillette Company is the world leader in male grooming, a category that includes blades, razors and shaving preparations. Gillette also holds the number one position worldwide in selected female grooming products, such as wet shaving products and hair epilation devices. In addition, the Company is the world leader in alkaline batteries, toothbrushes and oral care appliances.
This press release is also available at www.newellco.com and www.gillette.com .
Source: Newell Rubbermaid Inc.
Contact:
Ross A. Porter, Jr., Vice President - Investor Relations,
Newell Rubbermaid, 815-381-8150, or Eric Kraus, Vice President, Corporate
Communications, 617-421-7194, or Skip Loper, Vice President, Corporate
Investor Relations, 617-421-8127, both of The Gillette Company
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 765613
/Website: gillette.com
/Website: newellco.com
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