Newell Brands Inc. said Friday that it has sold its winter sports business to Kohlberg & Company, a private equity firm. The winter sports brands include K2, Atlas, Madshus and Dalbello. Sales from the winter sports portfolio were about $330 million in 2016. The transaction is expected to close late in the second quarter or early in the third quarter. The sale is part of an effort to streamline Newell's portfolio. Gross proceeds from the divestiture are expected to be $240 million. In a separate transaction, Newell has sold the Zoot and Squadra clothing brands.