MIDDLETON, Wis. — Spectrum Brands reported net income of $27.8 million, down from $33.8 million a year ago, a decrease which the company attributed in part to expenses related to its acquisitions of IAMS, Eukanuba, and Salix Animal Health. Shares in the company nevertheless rose with the announcement that it will acquire Armored AutoGroup, which makes Armor All and STP motor oil. The $1.4 billion deal includes debt assumed from Armored’s owner, private equity firm Avista Capital Partners. CEO Andreas Rouvé said that the launch of new products is “enabling us in many cases to introduce higher price points and margins.”
Spectrum Brands acquires Armored Auto
Most Recent
Most Read
BeautiTone unveils 2025 Colour of The Year
Fri, October 04th, 2024
Building materials prices slump in Quebec
Fri, October 04th, 2024
Amazon slated to hire 9,000 employees
Fri, October 04th, 2024
Grainger begins work on warehouse
Thu, October 03rd, 2024
Port strike could cost U.S. economy billions
Thu, October 03rd, 2024
Small businesses to get carbon rebates
Thu, October 03rd, 2024
Port strikes across North America loom large
Wed, October 02nd, 2024
Minimum wage climbs in four provinces
Wed, October 02nd, 2024
U.S. construction spending dips unexpectedly
Wed, October 02nd, 2024
Canfor announces CEO’s departure
Tue, October 01st, 2024