It is sad when you businesses become a "destraction".
This could have a major effect in the ski industry. I know some from K2 that jumped and I know some that were pushed but this could be devastating. K2, Marker and Volkl IMHO still be around in some form...Line, Full Tilt and Dalbello have greater storms to weather. A lot will happen by the end of the year as this plays out. We are not talking a cash rich industry where an Amer or another group can come in but it sounds like any of these companies can be had for pennies on the dollar.
Read the whole story HERE.By Charlie Lunan
Newell Brands Inc. (NYSE:NWL) will begin winding down businesses in the coming weeks it does not think it can sell, with the goal of closing them by the end of the year, its CEO told investors Thursday.
“We have made the choice to move quickly, more quickly than we originally envisioned, such that we drive the organizational change in the U.S. all the way to the end game by the end of the year,” CEO Michael Polk said in a presentation at the Barclay’s Global Consumer Staples Conference.
The end game refers to Newell Brand’s plan to divest unidentified businesses that generate $250 million to $300 million in annual revenue. Newell Brands has not said what businesses it plans to exit, but some speculate it will divest winter sports brands picked up April 15, when it closed its acquisition and merger with Jarden Corp.
“Ideally I would like to sell these assets versus simply walking away from them,” Polk told his audience Thursday. “Some of them are the kinds of businesses that would be difficult to sell and therefore, we should just shut down because they create no value for you and they are a distraction for us.”
This could have a major effect in the ski industry. I know some from K2 that jumped and I know some that were pushed but this could be devastating. K2, Marker and Volkl IMHO still be around in some form...Line, Full Tilt and Dalbello have greater storms to weather. A lot will happen by the end of the year as this plays out. We are not talking a cash rich industry where an Amer or another group can come in but it sounds like any of these companies can be had for pennies on the dollar.
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