HAMILTON BEACH BRANDS, INC. AND BRITA LP SIGN EXCLUSIVE MULTIYEAR TRADEMARK LICENSING AGREEMENT

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Positive)

Tags

Rhea-AI Summary

Hamilton Beach Brands, a subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), has entered into an exclusive multiyear trademark licensing and product development agreement with Brita, a leader in at-home water filtration. This partnership aims to launch a new line of countertop water appliances later this year, promoting sustainable water filtration solutions. The collaboration is expected to tap into the growing demand for home health and wellness products, a market valued in the multibillion-dollar range. The agreement aligns with Hamilton Beach's strategy to innovate and expand its product offerings in health-focused categories.

Positive

Exclusive multiyear agreement with Brita enhances market presence in the home health and wellness sector.
Expected product launches align with consumer demand for sustainable and easy-to-use water filtration solutions.

Negative

None.

03/22/2022 - 06:30 AM

GLEN ALLEN, Va., March 22, 2022 /PRNewswire/ -- Hamilton Beach Brands, Inc., a wholly-owned subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), has signed an exclusive multiyear trademark licensing and product development agreement with Brita^®, the leader in at-home water filtration products for over 30 years. Later this year, the companies will begin to launch a new line of easy-to-use countertop water appliances that help more people choose sustainable, best-in-class filtration hydration solutions at home.

Hamilton Beach Brands and Brita plan to launch a new line of countertop water appliances later this year.

"Consumer concerns about wellness and sustainability, which accelerated during the pandemic, are driving strong demand for at-home water filtration products," said Scott Tidey, senior vice president, consumer sales and marketing, Hamilton Beach Brands. "Our agreement with Brita will expand our presence in the fast-growing, multibillion-dollar home health and wellness market. Our company has deep experience developing and sourcing high-quality small appliances that feature the latest in technological advances. This agreement is a win for consumers who want easy-to-use countertop water filtration products."

Lauren Kahn, senior director of marketing for Brita, said, "As the leader in at-home water filtration, we're excited to offer even more options for people who want cleaner*, great-tasting water at home without adding to plastic-bottle waste. Unfortunately, 47% of households still turn to plastic water bottles for their primary water supply at home, which results in sending more plastic waste to landfills that will persist for generations to come.** Our brand purpose is to make water better for people and the planet***, and we are constantly seeking out innovative ways to make sustainable hydration at home and on-the-go an easy choice."

About Hamilton Beach Brands Holding Company

Hamilton Beach Brands Holding Company operates through its wholly-owned subsidiary, Hamilton Beach Brands, Inc., a leading designer, marketer, and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company's owned consumer brands include Hamilton Beach^®, Proctor Silex^®, Hamilton Beach Professional^®, Weston^®, TrueAir^®, Brightline^®, and Hamilton Beach Health^®. The Company's commercial brands include Hamilton Beach Commercial^® and Proctor Silex Commercial^®.

Hamilton Beach Brands agreement with Brita supports two of its strategic initiatives to deliver profitable growth from innovative solutions that improve everyday living. These include expanding its presence in the fast-growing home health and wellness market and leveraging relationships with other companies that build on the complementary strengths of both enterprises. In 2021, Hamilton Beach Brands entered into an exclusive multiyear trademark licensing and product development agreement with The Clorox Company to develop and market air purifiers under the Clorox^® brand name. The first air purifiers and replacement filters under the Clorox agreement are launching in the first half of 2022 and more introductions are planned for later in the year. Hamilton Beach Brands also signed an agreement in 2021 with Health Beacon plc to become the exclusive marketer and distributor of its injection care management system in the US and Canada. The Smart Sharps Bin^TM from Hamilton Beach Health^® powered by HealthBeacon^® was launched in the US in the first quarter of 2022. Hamilton Beach Brands also licenses the brands for its Wolf Gourmet^® countertop appliances and CHI^® premium garment care products. Hamilton Beach Brands markets the Bartesian^® premium cocktail delivery system through an exclusive multiyear agreement.

For more information about Hamilton Beach Brands Holding Company, visit the Company's website at www.hamiltonbeachbrands.com. The Company's brand websites include www.hamiltonbeach.com, www.proctorsilex.com, www.cloroxhomeappliances.com, www.smartsharpsbin.com and www.westonbrands.com.

About Brita

Brita® markets a variety of products, including water pitchers, faucet filters and reusable filter bottles, with the goal of making water better for people and the planet***. By providing a variety of water filtration resources, Brita enables consumers to choose better water today for a better future together. For more information, go to Brita.com.

*vs. tap water
**of households tested in Brita Consumer Segmentation, August, 2020
***Making water better see certifications. No single-use plastic bottle waste.

The Clorox Company

The Clorox Company (NYSE: CLX) is a leading multinational manufacturer and marketer of consumer and professional products with about 9,000 employees worldwide and fiscal year 2021 sales of $7.3 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol® cleaners; Liquid-Plumr® clog removers; Poett® home care products; Fresh Step® cat litter; Glad® bags and wraps; Kingsford® grilling products; Hidden Valley® dressings and sauces; Brita® water-filtration products; Burt's Bees® natural personal care products; and RenewLife®, Rainbow Light®, Natural Vitality CALM™, and NeoCell® vitamins, minerals and supplements. The company also markets industry-leading products and technologies for professional customers, including those sold under the CloroxPro™ and Clorox Healthcare® brand names. More than 80% of the company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.

Clorox is a signatory of the United Nations Global Compact and the Ellen MacArthur Foundation's New Plastics Economy Global Commitment. The company has been broadly recognized for its corporate responsibility efforts, included on the Barron's 2022 100 Most Sustainable Companies list, 2022 Bloomberg Gender-Equality Index, the Human Rights Campaign's 2022 Corporate Equality Index and the 2021 Parity.org Best Places for Women to Advance list, among others. In support of its communities, The Clorox Company and its foundations contributed about $20 million in combined cash grants, product donations and cause marketing in fiscal year 2021. For more information, visit TheCloroxCompany.com and follow the company on Twitter at @CloroxCo.

# # #