Rayovac has reached an agreement to acquire consumer products manufacturer United Industries for approximately $1.2 billion, the company has announced.
The move will see the battery manufacturer diversify its product offerings into the large and growing lawn and garden sector, and specialty pet supply categories.
Dave Jones, Rayovac’s chairman and CEO, said: "Rayovac’s publicly stated goal has been to go through acquisitions that diversify and increase our revenue base while leveraging our global merchandising and distribution capabilities.
"Upon closing, we will have a significant presence in several new consumer product markets – large growth categories where we can capitalise on our strengths with major retailers to leverage the full potential of the powerful combined enterprise," he added.
Madison (WI)
