Spectrum Brands Holdings acquired United Industries Corporation for $1,200,000,000, a transaction completed in February 2005, structured as Stock-and-cash acquisition (13.75 million Rayovac shares plus $70 million in cash) with assumed debt.
United Industries Corporation operates in Home & Garden and Global Pet Supplies (lawn and garden, household insect control, specialty pet), is based in United States (St. Louis, Missouri; operations across North America). Rayovac acquired United Industries Corporation, the St. Louis-based manufacturer and marketer of consumer lawn-and-garden care and household insect-control products (operating as Spectrum Brands in the United States and NuGro in Canada) and a leading specialty pet-supplies supplier through its United Pet Group division. United's brands included Spectracide, Vigoro, Sta-Green, Schultz and C.I.L in lawn and garden; Hot Shot, Cutter and Repel in household insect control; and Marineland, Perfecto and Eight in One in pet supplies. United estimated total 2004 pro forma sales of about $950 million. Rayovac subsequently adopted the Spectrum Brands name.
Extended Rayovac's consumer-products offerings into the large, high-growth lawn-and-garden, household insect-control and specialty pet categories, leveraging the company's global merchandising and distribution capabilities and existing relationships with major retailers.
Rayovac's publicly stated goal has been to grow through acquisitions that diversify and increase our revenue base while leveraging our global merchandising and distribution capabilities. United Industries is just such an acquisition.David A. Jones, Chairman and Chief Executive Officer, Rayovac Corporation
Advisory firms were not disclosed for this transaction.