Spectrum Brands’ owner looks to shed assets

MIDDLETON, Wis. — Spectrum Brands Holdings’ majority stakeholder says it is considering the merger or sale of some of its holdings with the announcement of its CEO and president’s departure. Omar Asali plans to leave HRG Group in the second half of fiscal 2017 to establish a private investment vehicle that will make long-term investments in private and public companies. “Our management team and the Board have been working to enhance stockholder value and, after careful review, we have decided that exploring alternatives to maximize value is in the best interests of all our stockholders,” said Asali. According to HRG’s media information, its main operations are Spectrum and insurance firm Fidelity and Guaranty Life.