Spectrum Brands to Acquire Rejuvenate®, a Leading Household Cleaning, Maintenance and Restoration Products Company
Spectrum Brands Holdings (NYSE: SPB) announced its acquisition of For Life Products, LLC, the maker of Rejuvenate cleaning products, for approximately $300 million. This acquisition aims to strengthen Spectrum's position in the household cleaning market, capitalizing on Rejuvenate's growth. The company anticipates significant revenue and manufacturing synergies, enhancing its product offerings and market penetration. The transaction is set to close in the first half of 2021, pending regulatory review. This strategic move aligns with Spectrum's focus on expanding its portfolio of essential home products.
- Acquisition of Rejuvenate enhances Spectrum's position in the household cleaning market.
- Transaction expected to create substantial revenue and manufacturing synergies.
- Acquisition is margin accretive, potentially boosting profitability.
- None.
Spectrum Brands Holdings, Inc. (NYSE: SPB; “Spectrum Brands”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, announced today it had entered into an agreement to acquire For Life Products, LLC (“Rejuvenate”), a leading manufacturer in the household cleaning, maintenance, and restoration segment.
Rejuvenate® offers a fast growing portfolio of innovative cleaning and surface care products for the entire home and is being acquired at a purchase price of approximately
“Rejuvenate has generated impressive top and bottom-line growth over the last few years and provides Spectrum Brands with an immediate leadership position in the attractive household cleaning category that enhances our ability to meet increasing demand for home essential products. The acquisition aligns with our strategy to purchase strong, complimentary brands where we can leverage our efficient supply chain and strong customer relationships to drive future growth. With the acquisition of Rejuvenate, we are confident in our ability to create value through substantial revenue, supply chain and manufacturing synergies. In addition, the acquisition is margin accretive for us. And finally, we are very excited to build on the Rejuvenate commitment to providing quality, innovative products that clean, restore and protect the entire home” said David Maura, Chairman and Chief Executive Officer of Spectrum Brands.
The transaction is expected to close in the first half of the 2021 calendar year, subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a leading supplier of residential locksets, residential builders' hardware, plumbing, 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 Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister®, Remington®, George Foreman®, Russell Hobbs®, Black+Decker®, Tetra®, Marineland®, Nature's Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS® and Eukanuba® (Europe only), Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag® and Liquid Fence®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™.
About For Life Products, LLC
Founded in 1998, For Life Products is a leading manufacturer of innovative household cleaning, maintenance, and restoration products sold under the Rejuvenate® brand. Rejuvenate® has grown from a single Floor Restorer to a full line of over 50 home cleaning and restoration products designed to clean, restore, and protect customers’ homes. Available nation-wide and in Canada, at major blue-chip retail chains, Rejuvenate® has consistently delivered premium products designed to improve the quality of everyday life. For more information, please visit www.rejuvenateproducts.com.
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FAQ
What is the acquisition value of Rejuvenate by Spectrum Brands?
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