(file photo: Ride Snowboards)

Newell Assures That Its Winter Sports Brands Will Continue

Hoboken, NJ – In response to a story published on Wednesday, Newell Brands has provided clarification that its winter sports brands including K2, Völkl, Marker and others will continue, even if the company cannot successfully divest itself of those brands in 2017.

“The decision to pursue a sale of our winter sports businesses (inclusive of Völkl and K2) was part of a recently completed strategic review of Newell Brands’ portfolio,” a company spokesperson explained. “We do not plan to shut these businesses down, but rather intend to sell them to a buyer at a full and fair value. We are confident that we will achieve a successful sale of these category-leading businesses to an owner who shares our interest in unlocking their full potential.”

At the Barclay’s Consumer Staples Conference in Atlanta last month, Newell Brands Chief Executive Officer Michael Polk had indicated that some of the brands might be difficult to sell, and while he’d prefer to sell them, in the end he would simply shut them down if necessary rather than let them serve as a distraction.

(file photo: Ride Snowboards)
(file photo: Ride Snowboards)

The Newell Brands spokesperson who contacted First Tracks!! Online assured that this approach would not be taken with its Winter Sports portfolio that also includes Full-Tilt ski boots, Line Skis and Ride Snowboards. She also emphasized that Newell Brands will continue to occupy the outdoor segment, excluding winter sports.

“Newell Brands has—and will continue to have—a strong Outdoor & Recreation division. We are fully committed to the continued operations of our leading brands in this category, including Coleman, Contigo, Marmot and others, and will be establishing a major hub in Chicago, Ill. to help grow these businesses. We look forward to Chicago becoming a major talent hub and epicenter of innovation for Newell Brands.”

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