Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns show up across Spectrum Brands's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.
4 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
The home appliances and cookware categories of Tristar Products, Inc., acquired into a new entity HPC Brands, LLC. The business contributed the PowerXL, Emeril Lagasse and Copper Chef brands, well-established names in the fast-growing cooking-appliances category (air fryers, indoor grills, toaster ovens), with net sales totaling $546 million in the twelve months ended December 31, 2021 and sales growth over 85% in the prior three years. $325.0 million total purchase price ($325 million cash at closing, plus up to $100 million cash in 2022 and $25 million cash or equity in 2023 if gross-profit targets are met; the $325.0M total includes $30.0 million acquisition-date fair value of contingent consideration).
We are excited to announce the acquisition of the Tristar Business by our Home and Personal Care (“HPC”) segment this morning. The strategic combination of the Tristar Business with our HPC segment represents an exciting key milestone in our pursuit to create a leading higher-margin and faster-growing appliances platform.David Maura — Chairman and Chief Executive Officer, Spectrum Brands
I am a big believer in the future prospects of this business under Spectrum Brands’ ownership and I am excited to have the deal structured to allow me to participate in the future financial performance of the business.Keith Mirchandani — Founder and Chief Executive Officer, Tristar Products, Inc.
For Life Products, LLC (“FLP”), a leading manufacturer of household cleaning, maintenance and restoration products sold under the Rejuvenate brand, including bottled liquids, mops, wipes and markers. The acquisition expanded the product categories offered by Spectrum's Home & Garden segment, which historically centered on lawn-and-garden and household-pest-control brands. $301.5 million (all cash consideration).
On May 28, 2021, the Company acquired all ownership interests in For Life Products, LLC (“FLP”) for a purchase price of $301.5 million. FLP is a leading manufacturer of household cleaning, maintenance, and restoration products sold under the Rejuvenate brand.Spectrum Brands Holdings FY2021 Form 10-K — Note 4 — Acquisitions
Armitage Pet Care Ltd, a premium pet treats and toys business headquartered in Nottingham, United Kingdom, with a portfolio of brands including the dog-treats brand Good Boy, the cat-treats brand Meowee!, and Wildbird bird-feed products, predominantly sold within the United Kingdom. $187.7 million (approximately $187 million per the FY2020 10-K subsequent-events note; $187.7 million per the FY2021 10-K).
On October 26, 2020, the Company acquired Armitage Pet Care Ltd (“Armitage”) for approximately $187 million. Located in Nottingham, United Kingdom, Armitage is a premium provider of pet treats and toys including a portfolio of brands that includes dog treats brand, Good Boy, and cat treats brand, Meowee!, among others, that are predominantly sold within the United Kingdom.Spectrum Brands Holdings FY2020 Form 10-K — Subsequent Events note
Omega Sea, LLC, a manufacturer and marketer of premium fish foods and consumable goods for the home and commercial aquarium markets, primarily consisting of the Omega brand. approximately $16.9 million.
On March 10, 2020, the Company acquired Omega Sea, LLC (“Omega”), a manufacturer and marketer of premium fish foods and consumable goods for the home and commercial aquarium markets, primarily consisting of the Omega brand, for a purchase price of approximately $16.9 million.Spectrum Brands Holdings FY2020 Form 10-K — Acquisitions discussion