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
Hardlines Conference goes west in 2023
Thu, June 30th, 2022
Spectrum Brands sales team sees transitions
Thu, June 30th, 2022
Napoleon CFO promoted to president
Thu, June 30th, 2022
Quebec hardware stores spared inventory glut
Thu, June 30th, 2022
TIMBER MART welcomes B.C. member
Wed, June 29th, 2022
Experts forecast summer drop in lumber prices
Wed, June 29th, 2022
Inflation, housing prices squeeze renovations
Tue, June 28th, 2022
spoga+gafa attendance rebounds
Tue, June 28th, 2022
Featured Classified: Kidde Canada
Tue, June 28th, 2022
Intertape Polymer cleared to go private
Mon, June 27th, 2022