TWG: Newell Brands sells Waddington to Carlyle-backed Novolex

Newell Brands Inc. has cashed in on another one of its businesses. The Hoboken, New Jersey-based conglomerate has sold The Waddington Group, a consumer and commercial package manufacturing business. Terms of the deal remain undisclosed, but proceeds from the divestiture are expected to be about $2.3 billion. On the buy side of the deal is private equity firm The Carlyle Group (NASDAQ: CG). Waddington will be folded into Novolex Holdings LLC, a paper and plastic packaging company Carlyle acquired...