Hunter Douglas Acquires Décor Division from Newell Rubbermaid
PEARL RIVER, N.Y. – Hunter Douglas, the world market leader in window coverings and a major manufacturer of architectural products, has agreed to acquire the Levolor® and Kirsch® window coverings and drapery hardware business and brands, with 2015 sales of $302 million, from Newell Rubbermaid Inc., for a purchase price of $270 million (USD).
The acquisition brings together two distinctly different yet complementary brands. The Hunter Douglas brand is the leader in the premium custom window coverings segment, distributed predominantly through the specialty dealer channel. The Levolor brand is a leader in the everyday style market segment, distributed primarily through the home center channel.
According to Ron Kass, President and CEO of Hunter Douglas, North America, "Levolor is an exciting addition to the Hunter Douglas portfolio that allows us to supplement our longstanding position in the specialty dealer channel with a strengthened position in the home center channel. Together these businesses will allow us to better service the unique needs of each of these distribution channels and consumer market segments."
Levolor, founded in 1935, is a leading supplier of window covering products to the North American home center channels. Kirsch is a long established window covering and drapery hardware brand.
The Levolor brand is one of the oldest and most recognized in the window covering industry in North America. Levolor is based in Atlanta, Georgia and has manufacturing facilities in Ogden, Utah; Agua Prieta, Mexico; Shenzhen, China; a customer service center in High Point, North Carolina as well as several logistic facilities and sales offices in the United States and Canada.
The Hunter Douglas Group is comprised of 126 companies, 50 manufacturing facilities, and 76 assembly operations in more than 100 countries. Hunter Douglas employs about 16,000 people and had sales in 2015 of $2.552 billion (USD).
The completion is subject to regulatory approval.
About Hunter Douglas: Hunter Douglas is the worldwide leader in custom window coverings and a major manufacturer of architectural products. For 70 years, the company has been at the forefront of innovating intelligently designed products that seamlessly integrate form with function. The company is a national sponsor of Habitat for Humanity, covering windows in every Habitat home built in the U.S. and Canada.
Hunter Douglas Inc. is headquartered in Pearl River, N.Y. Learn more at www.hunterdouglas.com
About Newell Rubbermaid:
Newell Rubbermaid Inc., an SP 500 company, is a global marketer of consumer and commercial products with 2015 sales of $5.9 billion and a strong portfolio of leading brands, including Sharpie®, Paper Mate®, Elmer's®, Irwin®, Lenox®, Rubbermaid Commercial Products®, Contigo®, Rubbermaid®, Calphalon®, Goody®, Graco®, Aprica®, Baby Jogger®, Dymo®, Parker® and Waterman®. As part of the company's Growth Game Plan, Newell Rubbermaid is making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.
This press release and additional information about Newell Rubbermaid are available on the company's website, www.newellrubbermaid.com.
SOURCE Hunter Douglas
CONTACT: For Hunter Douglas, Meghan Dockendorf, VP+C, meghand@vpcpartners.com, 212.966.3759 x 212; For Newell Rubbermaid, Nancy O'Donnell, VP Investor Relations, (770) 418-7723
Web Site: http://www.hunterdouglas.com Â
