Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Illinois Tool Works Inc. – Space Bag Division
Sale to S.C. Johnson & Son, Inc.
Baird served as exclusive financial advisor to Illinois Tool Works Inc.
Illinois Tool Works Inc. (“ITW”) (NYSE: ITW) recently completed the sale of its global Space Bag® brand and related assets (“Space Bag") to S.C. Johnson & Son, Inc. Terms of the transaction were not disclosed.
Space Bag® specializes in the design, manufacturing and marketing of branded, high quality, compressible vacuum-sealed bags and other home storage solutions. Space Bag has fostered long-term relationships with leading retailers, including mass merchants, club stores, specialty stores, home improvement retailers, grocery stores and other direct-to-consumer retailers, and has achieved considerable brand recognition status with consumers. Space Bag's line of household storage products are sold in every major retail channel and in over 60 countries worldwide. Space Bag is based in San Diego, California.
Headquartered in Glenview, Illinois, ITW is a global, diversified industrial manufacturer with key business platforms including welding, automotive OEM, industrial packaging, food equipment, construction, polymers and fluids, test and measurement, electronics, decorative surfaces and automotive aftermarket. Illinois Tool Works Inc. is listed and publicly traded on the New York Stock Exchange.