Berwind Corp., a Philadelphia-based investment firm, has entered into an agreement to sell the company that makes Elmer’s, Krazy Glue and X-Acto products in a $600 million transaction.
Newell Rubbermaid (NYSE: NWL) said in a statement that it will buy Elmer’s Products Inc., which is expected to record $240 million in sales this year. Elmer’s is based in Columbus, Ohio.
Berwind is a privately-owned investment firm of the wealthy Berwind family that dates back to 1868. It buys and operates a diverse group of companies.
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