History
The Newell Manufacturing Company was founded by Edgar Newell in Ogdensburg, New York, in 1903 as a manufacturer of metal curtain rods.[6][7]
The F. W. Woolworth retail chain became the first customer for Newell's bronze–plated curtain rods in 1916, making them the first Newell products to be distributed nationally. This marked the beginning of Newell's mass merchandising strategy. As the business grew, the company built a new 15,000-square-foot facility in Ogdensburg, New York.
The company purchased Barnwell Mfg. Co. of Freeport, Illinois in 1921, renaming it Western Newell Manufacturing Company. Freeport's access to railroad lines facilitated shipping products west. Kresge, the department store chain (later Kmart) was one of Western Newell's larger accounts.[8]
Daniel C. Ferguson was named president in 1965 and developed a growth-by-acquisition strategy, intending to build a strong, multi-product company.[9]
The Newell Company went public in 1972, opening on the NASDAQ, (a then-recently established stock exchange) at $28 per share. In 1974, they acquired EZ Paintr Corporation, then the world's largest maker of paint applicators. Newell was listed on the New York Stock Exchange with the ticker symbol NWL in 1979.[10] In 1979, Newell moved into its first corporate headquarters in a historic former bank building in Freeport, Illinois.
In 1983, the company entered the cookware market with the purchase of Mirro. In 1985, William P. Sovey was announced as the new president. Daniel C. Ferguson continued as vice chairman and chief executive officer of the company.[11] In 1987, the company acquired Anchor Hocking Corporation, a specialty manufacturer of glassware, flatware, cookware and other products. The deal included the purchase of Amerock, a maker of cabinet hardware and window components.[12]
In 1992, they acquired Sanford, a manufacturer and marketer of writing instruments, including the Sharpie and Expo brands. A year later, they acquired Levolor, a manufacturer and marketer of window treatments. They entered the beauty and style category by acquiring Goody hair care brushes ad accessories,[13] including Ace men's grooming accessories. They also acquired Stuart Hall, a Kansas City stationery company, which they held until 1998.[14][15]
In 1997, Newell acquired Cooper Industries' Kirsch, a company specializing in drapery hardware, and custom window coverings.[16] In 1998, the company expanded in cookware with the purchase of Calphalon Corporation,[17] a manufacturer of cookware marketed primarily to upscale retailers and department stores. The company also purchased Panex, a cookware maker in South America.
In 2016, Newell transferred its corporate headquarters to Hoboken, New Jersey.[18] Three years later, it returned to Atlanta.[19]
In 2018, Newell Brands sold Pure Fishing to New York-based private equity firm, Sycamore Partners, for approximately US$1.3 billion.[20]
