Newell and Jarden are a done deal

With the combination of Newell Rubbermaid and Jarden Corporation officially complete, the newly created entity is moving ahead as a $16 billion global consumers goods company with a portfolio of major brands.

Renamed Newell Brands Inc., the company will maintain its listing on the New York Stock Exchange as NWL.

“The combination of our two great organizations creates a powerhouse consumer goods company and sets up a very exciting long-term growth and value creation story,” said Michael Polk, Newell Brands CEO. “I am honored to have the opportunity to lead Newell Brands and the development of our business. We expect Newell Brands to unlock far greater upside than either company could have on their own."

Brands under the Newll Brands Inc. umbrella include Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer's, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.

Newell Brands will be led by Michael Polk as CEO, with Mark Tarchetti serving as the president. Otherwise, the operating structure will remain largely unchanged for the rest of 2016, with Jarden and Newell Rubbermaid commercial operations running independent of each other.

William Burke will serve as the president of Jarden Group,  working closely with Richard Sansone, COO, Jarden Group, and the Jarden business leaders during the transition.

Joseph Arcuri and Richard Davies will continue to serve in their recently announced roles as chief commercial officer and chief development officer, respectively, of Newell Rubbermaid Group. Russell Torres, recently appointed chief transformation officer, will lead Newell Brands’ integration and transformation efforts. Bradford Turner has been appointed chief legal officer and corporate secretary of Newell Brands.

"I want to thank Martin Franklin, Ian Ashken and Jim Lillie for their achievements and leadership at Jarden and for the role they have played in helping us bring our companies together," added Polk. "Our immediate focus will be to deliver our 2016 financial objectives, start the work of integrating the two companies and develop the long term corporate and portfolio strategy that will guide the choices we make and the realization of the company’s full potential.”

Additionally, effective April 22, the Newell Brands board of directors will expand to include Martin Franklin, founder and former executive chairman of Jarden; Ian Ashken, co-founder, former vice chairman and president of Jarden; and Ros L’Esperance, group managing director, head of Americas Investment Banking & chairman of Global Investment Banking at UBS. The board will be led by non-executive chairman Michael Cowhig.

Jarden’s common stock will also cease trading on the New York Stock Exchange immediately prior to market open on April 18, 2016, and will no longer be listed on the New York Stock Exchange.