The story
Robert Silverstein, then working in the sales and marketing department of Eldon, became the company's president by 1949. Beginning in 1957, Eldon expanded into polyethylene-based toys Billy Blastoff and Big Poly. Silverstein would become the company's CEO and chairman on May 1987.
On August 6, 1990, Rubbermaid announced their intentions to acquire Eldon for $235 million via a stock swap. The acquisition was finalized in 1991. Silverstein left the company the same year. In May 1997, Rubbermaid sold Eldon and several other businesses to Newell. Eldon remained a subsidiary until late 2002, when Newell folded it into the company.
From Wikipedia’s article on Eldon (toy company), shared under CC BY-SA 4.0.3