Newell Brands, the consumer product company behind Sharpie pens and Rubbermaid products, said Friday it will move its headquarters out of Sandy Springs to New Jersey, costing the Atlanta region a Fortune 500 company.
But the company said most of the 1,000 Newell employees in metro Atlanta will remain where they are, with only a “handful” from this area making the move.
The widely dispersed company has about 60,000 employees in total. About 250 to 300 executives and support staff will be going to the new New Jersey headquarters, the company said.
The move comes after Newell, formerly known as Newell Rubbermaid, recently completed a blockbuster merger with Jarden Corp.
“Our new headquarters will serve as an important business hub for our executive team, certain corporate functions and the company’s Transformation Office,” Newell Brands Chief Executive Officer Michael Polk said in a news release.
“It will also enable us to continue expanding our global e-Commerce and Design teams. Having an additional facility for these key functions enables us to drive future growth and innovation for our new portfolio of leading brands.”
Newell said it received a $27 million incentive package to establish its new headquarters in Hoboken, outside New York City.
Newell in July 2015 announced plans to move from a larger office in Sandy Springs to a smaller facility in the same city. The company has for several years occupied 3 Glenlake Parkway, a 14-story tower overlooking Ga. 400 at Abernathy Road. The company mvoved to Georgia a decade ago from Illinois.
Newell will still occupy its smaller corporate offices on Peachtree Dunwoody Road in Sandy Springs.
Last year, German automaker Mercedes-Benz announced plans to leave New Jersey and build a headquarters campus for its U.S. division in Sandy Springs. The automaker is occupying temporary facilities in Dunwoody.
More on this story as it develops…
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