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Retail

Newel Brands completes divestitures of Pure Fishing and Jostens

Newell Brands completed its divestitures of fishing materials company Pure Fishing and education materials provider Jostens to Sycamore Partners and Platinum Equity, respectively. Related: Newell Brands selling off two businesses for $2.5B 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, ...

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Cashless businesses could be outlawed under new bill

Under Senate Bill 2785 businesses would be prohibited from refusing payments of cash in exchange for their product, with the exception of online retailers, airport vendors and parking decks. The Senate Commerce Committee approved the measure in a 5-0 vote at their Monday meeting. Penalties would begin at $2,500 for a first offense and over ...

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