Spectrum Brands Holdings acquired For Life Products, LLC (Rejuvenate brand) for $301.5 million (all cash consideration), a transaction completed in May 2021, structured as all cash.
For Life Products, LLC (Rejuvenate brand) operates in Home & Garden (H&G), is based in United States (sold primarily in the U.S. with some distribution in LATAM and the Caribbean), had revenue of about NULL (combined with Armitage, the two FY2021 acquisitions contributed $117.4 million of net sales and $532.8 million of total assets for the year ended September 30, 2021). 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.
Acquired to expand the product categories provided by the Home & Garden segment beyond controls and repellents into household cleaning and restoration.
Adds an established household-cleaning brand (Rejuvenate) with distribution through major retailers including Lowe's, Home Depot and Walmart, extending the H&G segment into new product categories. Market-expansion capabilities and operational synergies; $147.0 million of the purchase price was recorded as goodwill reflecting expected integration and streamlining benefits. Home & Garden (H&G) reporting segment
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
Advisory firms were not disclosed for this transaction.