Battery manufacturer Energizer Inc’s $2 billion cash deal to purchase Spectrum Brands Holdings Inc’s global battery and lighting business has been completed, according to an article in Biz Times.
The deal—which includes hearing aid battery manufacturer Rayovac and the Germany-based Varta—was announced last January, with the companies working to gain regulatory approvals since then, according to Biz Times. The deal was forecast to potentially expand Energizer’s pricing power in its battery unit and expand its overseas presence in places like Latin America, the Middle East, Africa, and Europe, according to a Reuters article.
Spectrum, described as a “global consumer products company,” includes brands like Black + Decker, Armor All, Remington, and George Foreman, among others, said Biz Times.
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Source: Biz Times, Reuters