Energizer Holdings, the US manufacturer of global primary battery brands Energizer and Eveready, has agreed a $2 billion cash deal to acquire Spectrum Brands’ batteries business.
Missouri-based Energizer said its definitive agreement with Spectrum, confirmed on 16 January, will expand its international presence, broaden Energizer’s product range and manufacturing capabilities and boost its R&D capacity.
Spectrum has “a longstanding history, global footprint and diversified range of products”, including alkaline, carbon zinc and nickel metal hydride rechargeable batteries— anchored by the Varta and Rayovac brands— Energizer said.
Energizer CEO Alan Hoskins said the acquisition “will enable us to significantly expand our international business and enhance our long-term brand building capabilities as we broaden our portfolio with the Varta and Rayovac brands”.
The deal, which is subject to various regulatory approvals, is expected to close before the end of 2018.
