Honeywell Completes Sale of Its Consumer Products Group Business--Including Four Auto Brans to Rank Group Limited
MORRIS TOWNSHIP, NJ--July 29, 2011: Honeywell today announced it has completed the sale of its Consumer Products Group (CPG) business to Rank Group Limited in a cash transaction valued at approximately $950 million.
The CPG business includes four leading consumer automotive brands: FRAM® filters, Prestone® antifreeze, Autolite® spark plugs, and Holts® car care products. CPG had reported 2010 sales of approximately $1 billion within Honeywell's Transportation Systems segment.
Rank Group is a New Zealand-based private company which invests across a variety of industries and aims to build and grow leading global businesses, including Reynolds Group Holdings, one of the largest packaging companies in the world.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges.