Spectrum Brands Holdings is selling its Rayovac battery business to competitor Energizer Holdings as part of a transaction including Spectrum’s entire business cluster for batteries and lighting.
This $2 billion deal comes about two weeks after Spectrum had announced it would sell the Rayovac battery business in 2018. In a release, Spectrum says it will use the cash proceedings to reduce debt, reinvest in its core businesses “both organically and through bolt-on acquisitions,” and buy back shares.
“Today’s announcement is a culmination of our efforts to sell the Battery Business in order to re...
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