In an attempt to solve its problems, Rubbermaid went through a series of reorganizations, which led to employee layoffs. The original Rubbermaid had risen to enormous market share and profits by making Wal-Mart The history of rubbermaid near-sole distributor of its products, shifting away from a previous, years-long policy of diversifying its product distribution by using multiple retailers.
Streamlining and Acquisitions in the s Noble retired inand Stanley C. The major turning point for Wooster Rubber Company came in the s, when the company started manufacturing products made from plastic as well as rubber. Convinced there was a market for his products, Caldwell gave his enterprise a name—Rubbermaid—and expanded his line to include a soap dish, a sink plug, and a drainboard mat, selling these products in department stores throughout New England.
Inthe company acquired Anchor Hocking Corporation, a specialty manufacturer of glassware, flatware, cookware and other products.
Little Tikes became the core of a juvenile products division. As a result, Newell never arrived at a clear sense of what the company was really worth. In Newell moved its The history of rubbermaid headquarters to Hoboken, New Jersey.
Newell had a year track record of building shareholder value through successful acquisitions of companies like Levelor blinds, Sharpie pens, and Calphalon cookware. Rubbermaid had also worked hard, within legal bounds, to make its business look a whole lot prettier than it really was.
The company expanded its presence in this market with the purchases of CardScan business card scanners and Mimio interactive whiteboard products along with the acquisition of postage company Endicia and its Picture-it-Postage brand. Rubbermaid initially produced bathtub mats and doormats for these customers.
Noble also placed a heavy emphasis on new product development, evidenced by the objective he set in that aimed to have 30 percent of total annual sales come from products introduced over the preceding five years. Neither minnow nor fish, Rubbermaid was a whale-ten times the size of the largest acquisition Newell had previously attempted.
As ofRubbermaid generated only 11 percent of its sales outside the United Statesand almost all of that went to Canada.
Rubbermaid Home Products, which was still based in Wooster, and Rubbermaid Commercial Products, whose headquarters were located in Winchester, Virginia. This new material offered a wealth of opportunities for creating new household products. Inthe company boosted profits by investing in machines that produced curtain rods better and faster than any other manufacturer.
The complaint alleged that Rubbermaid engaged in price-fixing between wholesalers because it sold its The history of rubbermaid directly to some retailers—acting as its own wholesaler—and also allowed other wholesalers to sell its products, while stipulating the price for the products.
In the company entered the cookware market with the purchase of Mirro. The major turning point for Wooster Rubber Company came in the s, when the company started manufacturing products made from plastic as well as rubber.
Newell, a low-cost producer of largely unbranded housewares, had to learn how to leverage a high-margin brand when it bought Rubbermaid. Gault took over as chairman. The results tell the story: Its management was increasingly criticized for poor decision-making, and other companies had begun to compete successfully with Rubbermaid products.
Difficult Years in the s In the early s Rubbermaid marketed a line of recreational goods such as motorboats and snow sleds, but the company lacked the necessary distribution to support the products and abandoned the effort.
Following the advent of peace, The Wooster Rubber Company picked up its prewar activities where it had left off, and resumed production of rubber housewares. In JulyMichael B. This switch required significant retooling from the manufacture of exclusively rubber goods.
Also brought into the Rubbermaid fold in were Empire Brushes, a leading U. What did Newell forget to do when the deal strayed? Nevertheless, the party plan was not profitable until This was an acquisition ten times as big as the last biggest acquisition Newell had made before.
The company entered the toy industry in by buying the Little Tikes Company; went into the booming computer field inwith MicroComputer Accessories; into floor-care products with Seco Industries in the same year; and into the brush industry with a Canadian company, Viking Brush, in But Rubbermaid also divested its office products division by selling it to Newell Co.
Following these and other acquisitions, Rubbermaid created additional divisions to accommodate its new product lines. The guys now running Newell understand brand power and how to market it.
In addition to slow overseas growth, a number of other factors forced Rubbermaid to embark in the mids on its first major restructuring.Newell Brands is an American worldwide marketer of consumer and commercial products with a portfolio of brands including Rubbermaid food storage, History.
Newell Company. First Newell logo and language in their contract with Rubbermaid allowing it to control pricing refused Rubbermaid's request.
Rubbermaid's business collapsed shortly. Rubbermaid Incorporated is a leading U.S. manufacturer of housewares and other goods, with an emphasis on innovation, a record of steady growth throughout its history, and a sterling brand name.
The firm is the top home products company in the United States. Because of its success, Wooster Rubber Company became a publicly traded company inand two years later changed its name to Rubbermaid, Incorporated.
In the decades that followed, Rubbermaid continued to prosper. The historical dividend information provided is for informational purposes only, and is not intended for trading purposes. Back to Top.
From its start making balloons in a small Ohio town, to the current giant in commercial and consumer products, Rubbermaid has an interesting history. Rubbermaid, originally known as the Wooster Rubber Company, was founded in Wooster, Ohio, in The company originally manufactured toy balloons, but .Download