", "The combination of Rayovac and United Industries offers a compelling value proposition," said Thomas H. Lee Partners Co-President Scott Schoen. UPG's pet supply brands include Eight in One(R), Nature's Miracle(R), Dingo(R), Lazy Pet(R), St. Aubrey(R), Wild Harvest(R) and One Earth(TM). In 1906, the French Battery Company was founded in Chicago by James Bowen Ramsay (1869–1952). Actual results may differ materially from these statements as a result of changes in external competitive market factors, unanticipated changes in the company's industry, or the economy in general, as well as various other factors, including those discussed herein and those set forth in the Company's most recent Annual Report on Form 10-K. SEC Filings - Spectrum Brands Legacy, Inc. © 2020 Spectrum Brands, Inc., All Rights Reserved. Burgess to concoct a battery to rival those made in America and Europe. The transaction has been approved by United's shareholders. Existing United Industries debt of approximately $880 million will be redeemed or replaced by the new credit facility. CONTACT: Investors, Nancy O'Donnell, VP Investor Relations of Rayovac, +1-770-829-6208, or cell, +1-404-992-9001; or Media, David Doolittle of Ketchum, +1-404-879-9266, or cell, +1-404-840-1321, for Rayovac. In addition, a variety of portable LED flashlights and lanterns are produced under the Rayovac brand [16], prior to its sale to Energizer Holdings, earnings before interest, taxes, depreciation, and amortization, "Spectrum CEO: Company could sell Rayovac", "Spectrum Brands to merge with top shareholder HRG in $10 billion deal", "Energizer adds Rayovac batteries to lineup with $2 billion deal", "Rayovac Buys United Industries in $476M Deal", "UPDATE 1-Spectrum Brands exits bankruptcy", "HRG Group, Inc. As part of the transaction, the shares issued to United shareholders will be subject to a lockup agreement expiring one year after the closing date relative to 50 percent of the shares and 18 months after the closing date for the remaining 50 percent. These statements are subject to a number of risks, uncertainties and other factors that could cause results to differ materially from those anticipated as of the date of this release. It is expected that after closing, worldwide battery sales will represent approximately 40 percent of total combined pro forma revenue versus the current level of approximately 67 percent. Rayovac will host a conference call on Tuesday, January 4 at 8:30 a.m. EST to discuss the United Industries acquisition. Added Jones: "This is a truly transforming transaction for Rayovac, representing a major step forward toward our goal of achieving annual revenues of $3 billion. Spectrum Brands ist ein börsennotierter US-amerikanischer Mischkonzern mit Sitz in Middleton (Wisconsin). This page was last edited on 15 November 2020, at 06:29. The Rayovac management team has established a track record of successfully integrating acquired businesses while maintaining marketplace momentum. [15], Rayovac formerly manufactured alkaline batteries ranging in size from AAA to 9V, rechargeable nickel–metal hydride batteries, hearing aid batteries, lithium photo batteries, specialty batteries and portable power chargers. The company manufactures and markets home appliances under the Remington, Black & Decker, George Foreman, and Russell Hobbs brand names, lawn and garden care products under the Spectracide and Garden Safe brand names, and insect repellents under the Cutter and Repel brand names. Functional groups continuing to operate in St. Louis, Missouri, include the company's U.S. Home & Garden marketing, research and development, and regulatory compliance, as well as certain manufacturing and distribution functions. "The integration expertise we gained through our successful acquisitions of Varta and Remington gives us confidence that these first organizational changes are key to leveraging the potential of our combined companies and achieving the $75 million in synergies we identified as part of our acquisition due diligence efforts.". Spectrum Brands Holdings, a member of the Russell 1000 Index, is a global consumer products company offering a broad portfolio of leading brands focused on driving innovation and providing exceptional customer service. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. The company's stock trades on the New York Stock Exchange under the symbol ROV. The re-started and re-named assembly plant soon relocated to Wisconsin where Landau's efforts to advance the French company to… Apr 2014 – Present 5 years 7 months. Appliance maker Salton, owned by hedge fund Harbinger Capital, agreed to pay approximately $692 million cash to purchase the pet care division, but the deal collapsed on July 14, 2008. The transaction is subject to approval under the Hart-Scott-Rodino Anti-trust Improvements Act and other customary closing conditions. Its headquarters are located in Middleton, Wisconsin and was established in 2005 as the successor company to Rayovac Corporation. Russell Hobbs' brands include George Foreman Grill, Toastmaster, Black & Decker Home appliances, and Russell Hobbs. Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Headquartered in Atlanta, Georgia, Spectrum Brands generates approximately $2.8 billion in annualized revenues and has approximately 10,000 employees worldwide. Our passion and longstanding commitment to quality and value has earned the … Our easy-to-use, fast-acting lawn and garden products and repellents give you the power to tame the toughest invading bugs and weeds, while our interior products keep your home bug-free. The transaction calls for Rayovac to issue 13.75 million shares of its common stock, along with additional consideration of $70 million in cash, to United Industries' current shareholders, for a total value of approximately $1.2 billion including the assumption of approximately $880 million of United Industries debt and a cash tax benefit of $140 million. Citigroup Global Markets Inc. served as advisors to the independent committee of the Rayovac board of directors. Privately held United Industries, based in St. Louis, is a leading manufacturer and marketer of consumer products for lawn and garden care and household insect control, operating as Spectrum Brands in the United States and NuGro in Canada. The Global Pet business unit, which encompasses both the United Pet Group and Tetra, will operate as a separate business unit headquartered in Cincinnati. The Microlite acquisition included the rights to the Rayovac name in Brazil, giving the company worldwide rights to the Rayovac name. In addition to these cost savings, Rayovac has identified a number of opportunities to drive revenue growth through cross-selling and coordination of sales and marketing efforts. We're dedicated to delivering efficient, high-quality pest solutions that take the guesswork out of managing hug and weed problems. Merrill Lynch & Co. served as financial advisor to Rayovac Corporation, and Goldman Sachs & Co. advised United Industries. ATLANTA, Jun 09, 2005 (BUSINESS WIRE) -- Spectrum Brands, Inc. (NYSE: SPC) (formerly Rayovac Corporation), a global consumer products company with a diverse portfolio of world-class brands, announced today that it has completed the first stage of its integration initiatives related to the February 2005 acquisition of United Industries. Effective July 1, the United Industries Consumer … ATLANTA, Jun 09, 2005 (BUSINESS WIRE) -- Spectrum Brands, Inc. (NYSE: SPC) (formerly Rayovac Corporation), a global consumer products company with a diverse portfolio of world-class brands, announced today that it has completed the first stage of its integration initiatives related to the February 2005 acquisition of United Industries. Privately held United Industries, based in St. Louis, is a leading manufacturer and marketer of consumer products for lawn and garden care and household insect control, operating as Spectrum Brands in the United States and NuGro in Canada. The Ramsay collective invested in Landau's functioning low profile Columbia Dry Battery Company which had been halted by copyright issues regarding the adopted name "Columbia". "We share Rayovac's belief that our products will flourish as part of a larger company with an integrated global manufacturing, distribution and information services platform and a more significant relationship with our customers. Interested investors and others can participate on the call at 800-592-7713 (international callers at 706-679-4191). United Industries' Home and Garden Division, which operates as Spectrum Brands, includes the Spectracide(R), Spectracide Triazicide(R), Spectracide Terminate(R), Garden Safe(R) and Real-Kill(R) brands in the controls category, Sta-Green(R), Vigoro(R), Schultz(TM), Peters(R), Bandini(R) and Best(R) brands in the lawn and garden fertilizer and organic growing media categories and Hot Shot(R), Cutter(R) and Repel(R) brands in the consumer household insecticide and insect repellent categories.