Newell Brands selling Rawlings sporting goods unit

Newell Brands selling Rawlings sporting goods unit
Newell Brands selling Rawlings sporting goods unit

Newell Brands is selling iconic sporting goods company Rawlings to a private equity fund for about $395 million.

The sale is part of a broader plan at Newell Brands Inc. to sell some units and focus on key brands. It recently sold its disposable cups and cutlery business for about $2.2 billion. The Hoboken, New Jersey-based company's current brands include Sharpie, Calphalon and Rubbermaid.

Rawlings, known for baseball gloves and other sports equipment, is being sold to a fund managed by Seidler Equity Partners and Major League Baseball will co-invest. Rawlings was founded in 1887 and is based in St. Louis.

The sale is expected to close over the next two months.

This article was written by cool news network.

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