Spectrum Brands Holdings Announces Closing of the Sale of its Global Battery and Lighting Business to Energizer Holdings, Inc.
Business Wire 2-Jan-2019 1:05 PM
Spectrum Brands Holdings, Inc. (NYSE:SPB) today announced the closing
of the sale of its Global Battery and Lighting Business to Energizer
Holdings, Inc. (NYSE:ENR) for $2 billion in cash, subject to working
capital and other typical closing adjustments.
"We extend our thanks to both the Spectrum Brands and Energizer teams
for working nearly a year to bring this global transaction to a
successful completion," said David M. Maura, Executive Chairman and
Chief Executive Officer of Spectrum Brands Holdings. "We can now embark
on our debt reduction initiatives to materially improve our capital
structure in fiscal 2019 as we focus on our four continuing businesses
with increased investments in innovation and brand support."
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a
global consumer products company offering a broad portfolio of leading
brands and focused on driving innovation and providing exceptional
customer service. The Company is a leading supplier of
residential locksets, residential builders' hardware, plumbing, shaving
and grooming products, personal care products, small household
appliances, specialty pet supplies, lawn and garden and home pest
control products, personal insect repellents, and auto care products.
Helping to meet the needs of consumers worldwide, our Company offers a
broad portfolio of market-leading, well-known and widely trusted brands
including Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister®,
Remington®, George Foreman®, Russell Hobbs®, Black+Decker®, Tetra®,
Marineland®, Nature's Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS® and
Eukanuba® (Europe only), Digest-eeze™, Healthy-Hide®, Littermaid®,
Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®,
Armor All®, STP® and A/C PRO®. Based in Middleton, Wisconsin,
Spectrum Brands generated fiscal 2018 pro forma net sales of
approximately $3.79 billion for the four continuing businesses in fiscal
2019 – Hardware & Home Improvement, Appliances, Global Pet Supplies, and
Home & Garden. Fiscal 2018 reported net sales from continuing
operations were approximately $3.15 billion. For more information, visit www.spectrumbrands.com.
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