When Newell Brands announced they would be offloading much of their winter sports sector last week, the ski industry flew into a tizzy over what would happen to some of its most iconic brands. Turns out– the sky is not falling.
According to a press release obtained through ISPO, Newell Brands executives said they will not liquidate the assets but instead look for a “suitable buyer” to invest in future of these brands. If a buyer is not found, the consumer goods giant will keep the snowsports companies until they can find an acquisition offer that fits the needs of Newell Brands and the companies being sold.
“It is not the goal of the process of Newell to abandon one of the companies or to shut it down, but to find a suitable buyer, who will then develop the traditional brands further.” – Newell Brands Press Release