Following the April merger of Georgia-based Newell Rubbermaid and Florida-based Jarden Group ”” creating a $16 billion consumer goods powerhouse now responsible for more than a hundred brands including well-known names such as Sharpie, Coleman, Yankee Candle, Lenox and Rubbermaid ”” the new company, Newell Brands, has announced the relocation of its global headquarters to Hoboken, N.J.
Newell said in a statement it was lured to New Jersey from its current Atlanta headquarters by $27 million in tax incentives offered by the New Jersey Economic Development Agency over 10 years. The company also said that major business hubs including its operations in Norwalk will remain in operation and will be largely unaffected by the move.
As part of the merger, Jarden Group will operate out of Newell’s business hubs in Norwalk in addition to their Boca Raton, Fla., headquarters.
According to a spokesperson for Newell, the new Hoboken headquarters will enable the company to expand design and e-commerce capabilities.
Newell’s acquisiton of Jarden was first announced in December 2015Â for a per share consideration equal to $21 in cash and 0.862 of a share in Newell Brands stock, The deal was valued at $15.4 billion, according to The New York Times.
