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Newell Brands Selling Pure Fishing, Jostens

Newell Brands continues moving forward with its Accelerated Transformation Plan and has signed agreements to sell two businesses, Pure Fishing and Jostens.

Private equity firm Sycamore Partners is purchasing Pure Fishing and Platinum Equity, another private equity firm, is purchasing Jostens.

Gross proceeds from the Pure Fishing divestiture are anticipated to be $1.3 billion, company officials said, adding that proceeds from Jostens will also be about $1.3 billion.

Both transactions are expected to close in the fourth quarter, subject to customary closing conditions, including regulatory approval.