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Newell Brands Sells Rawlings Sporting Goods

Newell Brands has taken the next step in its accelerated transformation plan with the sale of Rawlings Sporting Goods Company.

The deal is valued at $395 million and is being sold to a fund managed by Seidler Equity Partners (SEP), a private investment firm based in Marina del Rey, California. Major League Baseball will co-invest with SEP.

Michael Polk, president and CEO of Newell, called the deal “a pivotal step” in the company’s transformation to become a more focused, forward-facing consumer goods company.