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Honeywell Completes Sales of CPG Unit to Rank Group

Company says the divestiture is consistent with Honeywell’s focus on high growth, global technologies.

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MORRIS TOWNSHIP, N.J. – Honeywell says 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.

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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.

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