Spectrum Brands to sell car care business to Energizer

Middleton-based Spectrum Brands is not just selling its Rayovac battery unit to Energizer Holdings, it is also selling its auto care division to its St. Louis-based competitor.

The two companies announced Thursday that Energizer will buy the auto care business -- which includes Armor All cleaning products and STP motor oil -- for $1.25 billion in cash and stock.

Meanwhile, plans for Energizer to buy the battery and lighting business for $2 billion have been reduced by up to $200 million because of a hangup with the European Commission connected to Spectrum Brands` Varta battery manufacturing and distribution facilities in Germany. Energizer is submitting a plan to sell the Varta division...

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Ken Notes: I would have loved to see the Rayovac unit develop next generation auto and energy storage systems. There were some very bright people in that division...



- - Volume: 6 - WEEK: 46 Date: 11/15/2018 11:31:00 AM -