Atlanta, Ga.-based Newell Rubbermaid Inc. announced late Thursday that it will acquire LabelWriter maker Dymo for US$730 million in cash. The deal is expected to close by the end of 2005 and will need to go through applicable regulatory approvals and other closing conditions. Newell Rubbermaid has made the deal through Dymo’s parent company Esselte Group Holdings AB.
Dymo’s LabelWriter is a small form-factor thermal printer that outputs labels of various sizes. The company has produced several models that are Mac-compatible, with software that lets users design and output their own label designs for use on folders, CD-Rs and other products. Dymo, headquartered in Stamford, Conn., reported net sales of $225 million in 2004. Dymo president Phil Damiano plans to stay on after the acquisition is complete. Newell Rubbermaid’s other properties include office supply brands like Sharpie, Paper mate, Parker, Waterman, Expo, uni-ball and Rolodex.
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