Newell Rubbermaid to acquire beverage container brands for $308M

|About: Newell Brands Inc. (NWL)|By:, SA News Editor

Newell Rubbermaid (NWL +0.2%) agrees to acquire Ignite Holdings, marketer of Contigo and Avex on-the-go thermal and hydration beverage container brands, from P-E firm North Castle Partners for $308M.

NWL expects Ignite to deliver $125M of net sales in 2014 and cites Ignite's 35% compound annual sales growth rate during the past four years.

NWL expects the acquisition to be accretive to its growth rate and normalized EPS in the first year.