Spectrum Brands Completes Acquisition of Tristar Products’ Kitchen Appliances and Cookware Business – QNT Press Release


Spectrum Brands Holdings, Inc. (NYSE:SPB“Spectrum Brands” or the “Company”)), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, announced today the completion of its previously announced acquisition of the kitchen appliances and cookware categories of Tristar Products, Inc. (“Tristar”).

“We welcome the Tristar business and employees to our Home and Personal Care (“HPC”) business and are tremendously excited about this partnership and the bright future of these two complementary assets,” said David Maura, Chairman and Chief Executive of Spectrum Brands. “I am even more excited about this strategic combination after joining our HPC global leadership and new product development, engineering and marketing teams in hosting the Tristar team last week at our Middleton, WI facilities. The energy, creativity and ideas that we have already generated , reaffirm my confidence that we will create a leading global home appliances and personal care company, separate from Spectrum Brands, with a powerful and innovative portfolio of leading brands, delivering higher margins and faster sustainable long-term growth.”

Credit Suisse Securities, RBC Capital Markets and Canaccord Genuity Sawaya Partners acted as financial advisors, and Sidley Austin LLP and Davis Polk & Wardwell LLP acted as legal counsel to Spectrum Brands on the transaction. Stifel acted as exclusive financial advisor and Venable LLP as legal counsel to Tristar Products.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Helping to meet the needs of consumers worldwide, Spectrum Brands offers a broad portfolio of market-leading, well- known and widely trusted brands including Emeril Everyday®, PowerXL®, Copper Chef®, Remington®, George Foreman®, Russell Hobbs®, Black+Decker®, Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in- 1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, OmegaSea®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, and Liquid Fence®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™

Forward-Looking Statements

Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these statements by using the words like “future”, “anticipate”, “intend”, “plan”, “believe”, “expect”, “project”, “forecast”, “could”, “would”, “should”, “will”, “may” and similar expressions of future intent or the negative of such terms. These statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many …

Full story available on Benzinga.com


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