Spectrum Brands sells off consumer battery business to Energizer
Energizer Holdings, announced on January 16 that it had entered into a definitive agreement to acquire Spectrum Brands’ Global Battery and Portable Lighting Business for $2 billion.
The business is better known under its two leading brands — Varta (the consumer battery side of the business is owned by Spectrum, the automotive was acquired by Johnson Controls in 2002) and Rayovac.
Spectrum’s Varta portfolio has a longstanding history, a global footprint and diversified range of products including alkaline, carbon zinc, hearing aid and nickel metal hydride rechargeable batteries as well as battery chargers and portable lighting products.
“The acquisition of Spectrum Batteries represents a compelling strategic, operational, and financial fit for Energizer,” said Alan Hoskins, chief executive of Energizer. “The combination will enable us to leverage Spectrum Brands’ manufacturing assets, significantly expand our international business and enhance our long-term brand building capabilities as we broaden our portfolio with the Varta and Rayovac brands and our geographies with Spectrum Batteries’ global colleagues.”