Newell to expand holdings

ATLANTA — Newell Brands is investing a total of $570 million to acquire two companies. The manufacturer of Rubbermaid-brand products has agreed to buy New Zealand-based food storage container maker Sistema Plastics for $470 million. At the same time, the company announced its pending acquisition of Smith Mountain Industries, which makes candles under the WoodWick brand. Newell is in the middle of streamlining its operations and refining its holdings, with Stanley Black & Decker announcing in the fall that it would buy Newell’s tool business for $1.95 billion.