AVEX, makers of performance water bottles and travel mugs, announced an acquisition by Newell Rubbermaid.
Newell Rubbermaid has signed a $308 million deal with North Castle Partners, set to take effect in September, to purchase Ignite Holdings, LLC, which comprises AVEX and sister brand Contigo.
The AVEX brand Launched in 2011, offers bottles created specifically for sport and outdoor enthusiasts, and the brand has demonstrated a deep commitment to the industry with design investments, event sponsorships, and athlete support.
“At AVEX, our goal from day one has been to push the limits on hydration as we serve those who are passionate about getting active in the outdoors, whether they are a first-time adventurer or an elite athlete,” said David Mellon, GM of Ignite.
“This acquisition by Newell Rubbermaid will not only allow us to continue in that commitment, but it provides us the ability to do it in an even greater capacity. Our Ignite team is working closely with our new partners at Newell Rubbermaid to ensure that everyone we do business with, from suppliers, to retailers, to consumers, will continue to experience the level excellence they have come to expect from the AVEX brand,” said Ignite CEO Sami El-Saden.
“Ignite’s focus on design, product performance, and constant innovation is a seamless fit with our Growth Game Plan strategy,” said Chief Development Officer for Newell Rubbermaid Mark Tarchetti “The AVEX brand has set the standard for hydration in the outdoor category, and we are proud to bring it into our brand family. We intend to invest in and wholly support this business to build on Ignite’s and AVEX’s current strong momentum, expanding product lines, channels of distribution, and geographic footprint over time.”
