Hoboken, N.J.-based consumer-goods giant Newell Brands is selling its winter-sports businesses, which include Seattle-based K2 Sports ski-maker and Ride snowboards.
The new owner will be New York-based private equity firm Kohlberg & Company.
The $240 million deal is expected to close late in the second quarter or early in the third quarter.
K2 and Ride could not be reached for comments or details on how the transaction will affect the companies.
K2, which started on Vashion Island in the 1960s, purchased Ride about 17 years ago. Ride was founded in Redmond in 1992.
Newell, whose brands include Paper Mate, Sharpie and Elmer’s, merged with K2’s parent company Jarden Corp. in April 2016. Newell put the winter-sports businesses, including such brands as Volkl and Marker, up for sale in October.
