Atlanta-based Newel Rubbermaid said Monday it is selling its Endicia business to Stamps.com for about $215 million.
Endicia, an online shipping company, had 2014 adjusted sales of about $59 million. The sale is expected to close by the end of the year.
“The announced sale of our Endicia business furthers our strategy of strengthening and focusing our portfolio to create a faster growing, higher margin business,”Newell Rubbermaid President and Chief Executive Officer Michael Polk said. “While a very attractive asset, Endicia is not focused in the core of our portfolio, and under new ownership is in an exciting position to continue innovating and offering the best possible solutions and service for its customers and partners.”
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