Newell Brands merges three Mexican subsidiaries
Global consumer goods company Newell Brands consumer goods company with a strong portfolio of well-known brands, has carried out a merger to combine the business operations of three of its Mexican subsidiaries.
The three subsidiaries are Newell Brands de México, Newell Rubbermaid Servicios de México, and Servicios Sunbeam-Coleman de México. The value of the transaction was not disclosed.
Newell Brands is the manufacturer of a wide portfolio of household brands, spanning the stationery, cleaning, food and beverages, home appliances, and outdoor accessories sectors.
The company’s brands include Rubbermaid, Paper Mate, Coleman, Graco, Baby Jogger and Contigo. The company reported net sales of $2.7 billion in second quarter, and net income of $239 million.
The company has a global presence, with Latin America registering its sharpest growth over that period.
The company was advised on the merger by Mexican law firm Pérez Correa-González (PCG).
“The multimillion-dollar corporate combination of Newell’s entities will minimize operating costs and create additional synergies between the subsidiaries within Mexico, and which will result in a more consolidated entity that will strengthen the business operations of the Newell Group in Mexico and its continued expansion in Latin America,” the law firm said.
PCG’s team was led by partner Luis González and associates Juan Carlos Izaza and María Fernanda López.
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