Reuters: Newell Brands nears deal to sell Jostens to Platinum Equity

GaryPageau ,

Reuters reports Newell Brands Inc. is closed to a deal to sell Jostens, a U.S. manufacturer of memorabilia such as class rings and yearbooks, to private equity firm Platinum Equity LLC for around $1.3 billion, two people familiar with the matter said on Tuesday.

The deal would mark the latest divestiture for Newell, which announced in May, as part of a turnaround plan, it would sell Jostens and its Pure ?Fishing brands. Newell is better known as the maker of Rubbermaid, Crock-Pot slow cookers and Yankee Candles. Newell purchased Jarden Corp. in 2016; Jarden had spent $1.5 billion to buy Jostens in 2015.

According to the article, “The sources, who asked not to be identified because the matter is confidential, cautioned that there was always a chance that negotiations end without a deal. Platinum Equity and Newell Brands declined to comment.”

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.