Newell sells part of Rubbermaid with license

Newell Brands Inc. has entered into a definitive agreement to sell its Rubbermaid consumer storage totes business to United Solutions. This business is a supplier of plastic products for the home and office.

The parties entered into a five-year licensing agreement for use of the Rubbermaid brand name.

The Rubbermaid consumer storage business represents approximately US$70m in annual sales.