Newell Rubbermaid Acquires Ignite
Contigo water bottles
ATLANTA-Newell Rubbermaid has acquired Ignite USA, maker of hydration bottles and thermal mugs, from private equity firm New Castle Partners for approximately $308 million. Ignite's brands, Contigo and Avex, are expected to generate more than $125 million in net sales in 2014, according to Newell Rubbermaid.
"We are excited to welcome the Ignite team to Newell Rubbermaid, and we are confident that the addition of the Contigo and Avex brands will accelerate sales growth and further strengthen our commitment to creating a brand and innovation led company, famous for design and product performance," said Michael Polk, Newell Rubbermaid president and CEO.
Sami El-Saden, CEO of Ignite, will remain with Ignite for six to seven months to oversee the integration. "I am excited for Contigo to be part of the Newell Rubbermaid family of brands and believe they are a great match for us, as they share our commitment to building a brand and innovation-led company known for great design and superior product performance," he said.