Leading Japanese juvenile brand to provide significant Asian position
ATLANTA, Feb. 25, 2008 /PRNewswire-FirstCall/ -- Newell Rubbermaid
(NYSE: NWL) today announced the signing of a definitive agreement to
acquire substantially all of the assets of Aprica Childcare Institute
Aprica Kassai, Inc. ("Aprica"), a leading maker of strollers, car seats and
other children's products, headquartered in Osaka, Japan. For the most
recent fiscal year ended July 31, 2007, Aprica reported net sales of
approximately $122 million. The transaction, which is subject to certain
customary and other closing conditions, is expected to close in the first
half of 2008. It is also expected to be slightly dilutive to earnings in
2008 and slightly accretive in 2009. Terms of the deal were not disclosed.
The acquisition will provide Newell Rubbermaid with a premium brand
that has a leading position in Japan. Aprica has proprietary technology in
lightweight strollers and car seats. The nearly 60 year-old brand has been
recognized internationally for its extraordinary commitment to pediatric
research and dedication to child safety.
"With the addition of Aprica, our Baby & Parenting Essentials global
business unit will have three of the world's strongest brands within
children's products," said Jay Gould, group president at Newell Rubbermaid.
"To complement Graco, our leading global brand, we added Teutonia last year
to accelerate our growth in Europe. Aprica now provides a significant
platform for expansion in Asia."
"As part of Newell Rubbermaid, Aprica can now reach more consumers in
more countries, while continuing our long history of innovation based on
the latest child development research," said Yasuhito Kassai, president of
Aprica.
As part of the transaction, Newell Rubbermaid plans to work with
Aprica's founding family to establish a foundation for pediatric research,
to drive product innovation and enhance the wellness of children.
Caution Concerning Forward-Looking Statements
The statements in this press release that are not historical in nature
constitute forward-looking statements. These forward-looking statements
relate to information or assumptions about the proposed transaction between
the Company and Aprica, the expected timetable for completing the
transaction, benefits and synergies of the transaction, future
opportunities for the combined company and products and any other
statements regarding the future expectations, beliefs, goals or prospects
of the Company or Aprica. These statements are accompanied by words such as
"anticipate," "expect," "project," "will," "believes," "estimate" and
similar expressions. Actual results could differ materially from those
expressed or implied in the forward-looking statements. Important factors
that could cause actual results to differ materially from those suggested
by the forward-looking statements include, but are not limited to, our
dependence on the strength of retail economies; competition with other
manufacturers and distributors of consumer products; major retailers'
strong bargaining power; changes in the prices of raw materials; our
ability to develop innovative new products and to develop, maintain and
strengthen our end-user brands; our ability to expeditiously close
facilities and move operations while managing foreign regulations and other
impediments; our ability to implement successfully information technology
solutions throughout our organization; our ability to improve productivity
and streamline operations; the risks inherent in our foreign operations and
those factors listed in the company's most recent quarterly report on Form
10-Q, and Exhibit 99.1 thereto, filed with the Securities and Exchange
Commission. Changes in such assumptions or factors could produce
significantly different results. The information contained in this news
release is as of the date indicated. The company assumes no obligation to
update any forward-looking statements contained in this news release as a
result of new information or future events or developments.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of
consumer and commercial products with sales of over $6 billion and a strong
portfolio of brands, including Rubbermaid(R), Sharpie(R), Graco(R),
Calphalon(R), Irwin(R), Lenox(R), Levolor(R), Paper Mate(R), Dymo(R),
Waterman(R), Parker(R), Goody(R), Bernzomatic(R) and Amerock(R). The
company is headquartered in Atlanta, Ga., and has approximately 22,500
employees worldwide.
This press release and additional information about Newell Rubbermaid
are available on the company's Web site, http://www.newellrubbermaid.com.
NWL-AD
SOURCE Newell Rubbermaid
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CONTACT:
Ron Hardnock, Vice President, Investor
Relations, +1-770-407-3994, or David Doolittle, Vice President,
Corporate Communications, +1-770-407-3613, both of Newell
Rubbermaid
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