Spectrum Brands acquires Armored Auto

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.”