Apr. 28, 2015, 4:48 PM
- Spectrum Brands (NYSE:SPB) agrees to acquire Armor All from P-E firm Avista Capital Partners for $1.4B, Bloomberg reports.
- SPB owns a broad range of consumer brands from bug repellent to facial-grooming products, and would add car wax, upholstery creams and STP engine oil to its product stable.
- The deal would be funded with ~$900M of new debt and the sale of $500M of new shares, according to the report; HRG, which owns ~59% of SPB, would subscribe to the share sale.
Apr. 8, 2013, 5:24 PM
Spectrum Brands (SPB) completes its acquisition of the residential lockset business of Tong Lung Metal, part of its $1.4B purchase of the Hardware & Home Improvement Group from Stanley Black & Decker (SWK) in December of last year. The commercial lockset business of Tong Lung will remain with SWK.| Apr. 8, 2013, 5:24 PM
Sep. 21, 2012, 1:44 PM
Spectrum Brands (SPB -2.1%) is apparently in final talks to buy a unit that makes door locks and bath fixtures from Stanley Black & Decker (SWK +2.3%), edging out Apollo Global, who was also competing for the business. SWK put its hardware and home-improvement business on the auction block earlier this year, and the deal could fetch around $1.5B. The win would be a big one for SPB whose current market value is only $2.1B.| Sep. 21, 2012, 1:44 PM