November 2, 2011 – 11:23 am
MADISON, Wis.–( BUSINESS WIRE )–Spectrum Brands Holdings, Inc. (NYSE: SPB), a universal consumer products firm with market-leading brands, voiced currently it has acquired the properties of the Black Flag and TAT brands from The Homax Group, Inc., a portfolio firm of Olympus Partners. Financial conditions of the all-cash contract were not disclosed.
“The contract is approaching to be accretive, and accomplish poignant expansion opportunities and functional synergies, inclusive extra insect poison and glass prolongation function for our Home Garden Division’s St. Louis manufacturing facility.”
“The Black Flag and TAT brands will right away intensify our United Industries’ Home Garden product portfolio and its share of the $2.5 billion U.S. consumer harassment manage market,” mentioned Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings and President, Home Garden Division. “Black Flag, that began selling product in 1833, is a of the oldest brands in the U.S. and enjoys unusual consumer recognition. The Black Flag and TAT products will give us even stronger capabilities to offer the consumer marketplace whilst expanding our domicile bomb participation in a few reduction created sell channels.
“This merger is an glorious fit with our settled plan to search for synergistic, bolt-on acquisitions that spread our product line with strong, nominal brands and categories, enlarge and extend our marketplace invasion leveraging the Spectrum Value Model, and give for manufacturing and placement synergies,” Mr. Lumley added. “The contract is approaching to be accretive, and accomplish poignant expansion opportunities and functional synergies, inclusive extra insect poison and glass prolongation function for our Home Garden Division’s St. Louis manufacturing facility.”
The Black Flag and TAT product lines include of liquids, aerosols, baits and traps that manage ants, spiders, wasps, bedbugs and fleas and other insects, together with roach, fly and yellow coupler products for motels, “where insects examine in . . . but they do not examine out!”
Genesis Capital, LLC acted as financial confidant to Spectrum Brands Holdings, Inc., whilst Barnes Thornburg LLP supposing authorised counsel. Deutsche Bank Securities Inc. acted as financial confidant to The Homax Group, Inc., whilst Kirkland Ellis LLP supposing authorised counsel.
About United Industries
United Industries Corporation, a auxiliary of Spectrum Brands Holdings, Inc., is the heading producer of value-brand consumer products is to home, grass and garden, insect and weed manage markets in the United States. United Industries provides its customers with innovative products of outstanding quality, so consumers gain from simpler insect and weed manage solutions. Its brands ” Spectracide, Garden Safe, Hot Shot, Cutter, Repel and Schultz ” are well established by consumers for delivering well-developed worth and devoted results. United Industries’ passion and longstanding undertaking to high quality and worth has warranted the certainty of its sell partners, who tally on United Industries to broach innovative and rarely essential products, customized solutions and merchandising excellence. For more information, revisit www.unitedindustriescorporation.com .
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a associate of the Russell 2000 Index,is a universal and dissimilar consumer products firm and a heading retailer of batteries, shred and bathing products, personal caring products, tiny domicile appliances, featured item house pet supplies, grass grassed area and home harassment manage products, personal insect repellents and unstable lighting. Helping to encounter the needs of consumers worldwide, the Company offers a extended portfolio of market-leading, well-noted and at large devoted brands inclusive Rayovac, Remington, Varta, George Foreman, Black Decker, Toastmaster, Farberware, Tetra, Marineland, Nature’s Miracle, Dingo, 8-in-1, Littermaid, Spectracide, Cutter, Repel, and Hot Shot.Spectrum Brands Holdings’ products are sole by the world’s tip 25 retailers and are existing in more than a million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from stability operations in mercantile 2010.For more information, revisit www.spectrumbrands.com .
About The Homax Group, Inc.
The Homax Group, Inc. is a consumer and executive products firm that is dedicated to “Making Tough Tasks Easier”. The firm offers tip brands such as Homax, Goo Gone, Magic, SCI, Tile-Guard and Natural Magic that are distributed by sell channels opposite North America. For more information, revisit www.homaxproducts.com .
About Olympus Partners
Olympus Partners is a Stamford, Conn.-based in isolation equity firm focused on providing equity funds for center marketplace administration buyouts and for companies wanting funds for expansion. Olympus is an active, long-term financier opposite a extended operation of industries, inclusive consumer products, healthcare services, financial services, and business services. Olympus manages in surplus of $3 billion on interest of corporate allowance funds, capacity funds and state-sponsored early retirement programs. For more information, revisit www.olympuspartners.com .
Forward-Looking Statements
Certain counts discussed in this headlines let go and other verbal and written statements by representatives of the Company concerning counts such as approaching sales, practiced EBITDA and other measures of financial performance, might be forward-looking statements inside of the meaning of the Private Securities Litigation Reform Act of 1995. These statements are theme to a number of risks and uncertainties that could result in results to deviate materially from those anticipated as of the date of this release. Actual results might deviate materially as a result of (1) Spectrum Brands Holdings’ aptitude to manage and instead accede with its covenants with apply oneself to its poignant outstanding indebtedness, (2) the incapacity to integrate, and to noticed that synergies from, the amalgamated businesses of Spectrum Brands and Russell Hobbs, (3) risks that changes and developments in outmost aggressive marketplace factors, such as foreword of new product features or technological developments, development of new competitors or aggressive brands or aggressive promotional wake up or spending, (4) changes in consumer urge is to assorted variety of products Spectrum Brands Holdings offers, (5) adverse developments in the universal credit markets, (6) the effect of on the whole economic conditions on consumer spending, (7) fluctuations in line prices, the expenses or accessibility of tender materials or conditions and conditions existing from suppliers, (8) changes in the general economic conditions in countries and regions where Spectrum Brands Holdings does business, such as batch marketplace prices, interest rates, currency swap rates, acceleration and consumer spending, (9) Spectrum Brands Holdings’ aptitude to successfully exercise manufacturing, placement and other cost efficiencies and to go on to gain from its cost-cutting initiatives, (10) Spectrum Brands Holdings’ aptitude to identify, rise and keep key employees, (11) adverse weather conditions and assorted other risks and uncertainties, inclusive those discussed herein and those set onward in Spectrum Brands Holdings’ and Spectrum Brands’ bonds filings, inclusive the many not long ago filed Annual Report on Form 10-K for Spectrum Brands, Inc. or Quarterly Reports on Form 10-Q. Spectrum Brands Holdings moreover cautions the reader that its estimates of trends, marketplace share, sell expenditure of its products and reasons for changes in such expenditure are formed only on paltry information existing to Spectrum Brands Holdings and management’s in accord with assumptions about marketplace conditions, and hence might be inaccurate, or might not simulate poignant segments of the sell market.
Spectrum Brands Holdings moreover cautions the reader that unjustified dependence should not be placed on any forward-looking statements, that verbalise only as of the date of this release. Spectrum Brands Holdings undertakes no task or shortcoming to refurbish any of these forward-looking statements to simulate events or environment after the date of this inform or to simulate real outcomes.
Tags: rates currency
Posted in Exchange Rates | No Comments »
