12.12.16
Newell Brands Inc. has announced that it will acquire Smith Mountain Industries, a provider of premium home fragrance products, primarily under the WoodWick Candle brand, for $100 million.
In addition, Newell announced that it is also acquiring New Zealand-based Sistema Plastics, a provider of innovative food storage containers.
Newell Brands CEO Michael Polk said that the two bolt-on acquisitions will strengthen Newell’s leadership positions in its most important “Win Bigger" categories, one of which is home fragrance.
WoodWick Candle is a fast-growing brand in the home fragrance category with annual sales of approximately $65 million. The company's innovative scented candles “crackle as they burn” and offer a strong strategic fit with Newell Brands’ current Home Fragrance portfolio, which includes the category-leading Yankee Candle brand, the company said in a press statement.
In addition, Newell announced that it is also acquiring New Zealand-based Sistema Plastics, a provider of innovative food storage containers.
Newell Brands CEO Michael Polk said that the two bolt-on acquisitions will strengthen Newell’s leadership positions in its most important “Win Bigger" categories, one of which is home fragrance.
WoodWick Candle is a fast-growing brand in the home fragrance category with annual sales of approximately $65 million. The company's innovative scented candles “crackle as they burn” and offer a strong strategic fit with Newell Brands’ current Home Fragrance portfolio, which includes the category-leading Yankee Candle brand, the company said in a press statement.