Newel Brands completes divestitures of Pure Fishing and Jostens

Gabrielle Saulsbery//December 21, 2018//

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Newell Brands completed its divestitures of fishing materials company Pure Fishing and education materials provider Jostens to Sycamore Partners and Platinum Equity, respectively.

Gross proceeds from the transactions were estimated at about $2.6 billion. Hoboken-based Newell Brands anticipates $2.5 billion of after-tax proceeds, subject to adjustments, and expects to use the proceeds for debt paydown and share repurchase.

A representative for Newell Brands had no further comments on the completed divestitures.