Newell Rubbermaid to sell Curver home-storage unit

<p>Newell Rubbermaid Inc. Thursday said it has agreed to sell Curver, its European indoor organization and home-storage business, to Jardin International Holding BV, as it pursues a plan to concentrate on its main businesses.</p><p>Susan Masten, a spokeswoman for Atlanta-based Newell Rubbermaid, said the price includes $5 million in cash and a note for $5 million, as well as payments of up to $25 million, based on earnings results for the five years ending in 2009.</p><p>Curver generated $140 million of revenue in 2004 for Newell Rubbermaid's cleaning and organization segment.</p><p>Costs associated with the transaction will lead Newell Rubbermaid to book a loss of $75 to $95 million for the first quarter of 2005, it said.</p><p>The deal is expected to close early this year.</p><p>Newell Rubbermaid's core product lines include Sharpie and Parker pens, Calphalon cookware, Little Tikes and Graco juvenile products, Levolor blinds, and Irwin and Lenox hand-tools.</p><p>Newell Rubbermaid posted revenue of $1.67 billion in the third quarter.</p><p>Shares of Newell Rubbermaid fell 35 cents, or 1.5 percent, to close at $23.09 on the New York Stock Exchange.</p>