Atlanta-based international consumer goods company Newell Brands Inc. plans to sell several of its brands, including K2, Völkl, Line, Marker and Full Tilt. This announcement comes on the heels of a press release from the company last week, as well as K2 recently dropping both Seth Morrison and Andy Mahre from its team.
“Newell Brands’ new strategic plan establishes a clear set of investment priorities, a new organization design for the company and a sharp set of portfolio choices that will focus our resources on the businesses with the greatest potential for growth and value creation,” says Michael Polk, chief executive officer of Newell Brands. “We will drive growth acceleration over time through more effective and scaled commercial operations, increased investment in our brands and capabilities and the delivery of bigger, better innovation across a broader set of categories.”
Newell Brands owns a variety of businesses and, according to a press release, the group plans to focus more on categories like writing (pens, markers, etc.), home fragrance and baby products, while still maintaining some focus on the outdoor and recreation sector. Sharpie, Elmer’s Glue and Yankee Candle are just a few of the brands staying under the Newell umbrella.
According to Newell Brands, “The sale processes are underway and the company hopes to complete the divestiture of the assets held for sale within the first half of 2017.” For now, the collective skiing conscious has their eyes on the future of these iconic brands, as this could very well be an opportunity for a fresh start.
