In an effort to “simplify and strengthen” its portfolio, Newell Brands has completed its acquisition of home fragrance brand Smith Mountain Industries and announced that  its has agreed to sell its Rubbermaid consumer storage totes business. In addition, the firm is looking to shed its Pine Mountain fire starters, fire logs, and fire safety business, as well as its Diamond matches, fire starters, lighters, toothpicks, and laundry accessories business, which collectively represent approximately $87 million in annual sales.  
 
Smith Mountain Industries is the company behind premium home fragrance products sold primarily under the WoodWick Candle brand.
 
The Rubbermaid consumer storage totes business, which represents approximately $70 million in annual sales, is being sold to United Solutions, a supplier of plastic products for the home and office. In conjunction with the sale, the parties will enter into a five-year licensing agreement for use of the Rubbermaid brand name. Financial terms of the agreement were not disclosed and are not material.
 
The Diamond businesses up for sale collectively represent approximately $87 million in annual sales. Private label products and other associated brands in these categories will be included in the sale. Newell Brands will retain all other Diamond-branded products, such as plastic cutlery, as well as its First Alert home safety business.