Spectrum Brands Holdings acquired Jungle Labs for $29,000,000, a transaction completed in September 2005, structured as All-cash acquisition with a performance-based earnout.
Jungle Labs operates in Global Pet Supplies (aquatics; United Pet Group), is based in United States (San Antonio, Texas). Spectrum Brands acquired Jungle Labs, a San Antonio, Texas-based maker of premium water and fish care products including water conditioners, plant and fish foods, and fish medications for aquariums and ponds. The deal added innovative lines such as Tank Buddies fizz tablets and Quick Dip test strips to Spectrum's aquatics portfolio, complementing its Tetra, Marineland, ASI and Perfecto brands. Jungle Labs generated roughly $14 million in annual revenue at the time.
Advanced Spectrum's strategy to become a larger supplier of specialty pet products and strengthened its leading share in the global aquatics market by adding a high-growth, high-margin water and fish care line.
Advisory firms were not disclosed for this transaction.