Newell Brands Sells Fire Starter Businesses

By Tonya Garcia Markets MarketWatch Pulse

Newell Brands Inc. said Monday that it has reached an agreement with Royal Oak Enterprises LLC to sell its Pine Mountain and Diamond businesses. Pine Mountain is a brand of fire starters and fire logs, and the Diamond brand sells matches, fire starters, lighters, toothpicks, clothes pins and clothes lines. The transaction is expected to close in the second quarter of 2017, but terms of the deal were not disclosed. Newell shares are up 0.3% in premarket trading, and up 5.4% for the past year. The S&P 500 index is up 15% for the period.

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