Newell Brands wraps up Hunter Douglas deal

Newell Brands has finished the sale of its Levolor and Kirsch window coverings brands to Hunter Douglas.

The $270 million transaction (including the retention of accounts receivable) will help fund Newell's debt repayment,  in line with the Newell Brands capital allocation priority and commitment to achieve a target leverage ratio of 3.0 to 3.5 times over the next two to three years.

“This transaction strengthens our portfolio as we become even more focused on our highest-potential growth opportunities," said Newell Brands CEO Michael Polk. “I am pleased that our dedicated window coverings employees will be joining the Hunter Douglas organization. This category is a core business to Hunter Douglas and they will clearly commit to the strategic development of the brands and the category.”

The deal was originally announced back in March.