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EasyClosets launches new custom media centers

BY HBSDealer Staff

EasyClosets announced the arrival of its new line of custom standalone media centers, which can be made to order in one day.

"Our goal at EasyClosets is to design and manufacture innovative solutions that are simple to design and assemble, can be delivered quickly, and solve organization challenges for our customers in every area of their homes," said Bobbie Locke, director of marketing and communications for The Stow Company, the parent company of EasyClosets brand. "We’re very excited to bring homeowners a ground-breaking DIY solution that gives them exactly what they need without the wait, and we expect this solution to set a new standard in the media storage market."

Customers will be able to select form a wide range of colors, sizes, configurations and styles. Other options include open shelving, towers, bridges and TV consoles, as well as an integrated wire management system.

An interactive online tool allows customers to design their own media centers, which can be found on the EasyClosets website.

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Dyson to debut its Hard Floor Cleaner on HSN

BY HBSDealer Staff

Dyson will be premiering its Dyson Hard DC56 Cordless Vacuum Cleaner on Aug. 10 on HSN, before its official Sept. 3 launch on Dyson.com.

The new model relies on the synergy of strong sunction, created by a digital motor, and wet wipe, using a double-edge cleaner, to deliver a thorough clean for hard floors. 

HSN customers will have exlusive access to the DC56 via HSN, HSN.com and HSN Mobile.

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Newell Rubbermaid to sell Hardware business for $214 million

BY HBSDealer Staff

Newell Rubbermaid, Inc. is selling its Hardware business to Nova Capital, a firm that specializes in the acquisition of corporate and private equity portfolios, for $214 million.

Specifically, components of the sale include Newell’s Amerock, Ashland, Drapery Hardware, Bulldog and Shur-Line brands. Sales for 2013 came in at $255 million so far, with gross proceeds resting at $214 million.

The move is part of a larger initiative by Newell to streamline the company’s operations in order to reduce costs and buoy its focus on products with growth potential, according to the Wall Street Journal.

“The successful sale of our Hardware business will leave us with a focused, cohesive portfolio of brands in five core business segments, each of which have significant potential to grow through innovation, brand development and selective emerging market expansion," said president and CEO Michael Polk. "That’s the Growth Game Plan in action."

Nova investment partner David Jacobs said that he expects to see sustained growth in the Hardware business, due in part to the continued housing recovery and growth in the home improvement market. 

Nick Morrisroe, VP and general manager of Hardware for Newell Rubbermaid, will maintain his position overseeing the combined businesses.

The deal, which was advised by Rothschild, is set to close at some point next quarter.

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