Genesis Capital is pleased to share the announcement that Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company with market-leading brands, has acquired Black Flag and TAT from The Homax Group, Inc., a portfolio company of Olympus Partners. Financial terms of the all-cash transaction were not disclosed.
“The Black Flag and TAT brands will immediately strengthen our United Industries’ Home & Garden product portfolio and its share of the $2.5 billion U.S. consumer pest control market,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings and President, Home & Garden Division. “Black Flag, which began selling product in 1833, is one of the oldest brands in the U.S. and enjoys extraordinary consumer recognition. The Black Flag and TAT products will give us even stronger capabilities to serve the consumer marketplace while expanding our household insecticide presence in several less developed retail channels.
The Black Flag and TAT product lines consist of liquids, aerosols, baits and traps that control ants, spiders, wasps, bedbugs and fleas and other insects, as well as roach, fly and yellow jacket products for motels, “where insects check in . . . but they don’t check out®!”
Genesis Capital, LLC acted as financial advisor to Spectrum Brands Holdings, Inc., while Barnes & Thornburg LLP provided legal counsel. Deutsche Bank Securities Inc. acted as financial advisor to The Homax Group, Inc., while Kirkland & Ellis LLP provided legal counsel.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, Remington®, Varta®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, Littermaid®, Spectracide®, Cutter®, Repel®, and Hot Shot®. Spectrum Brands Holdings’ products are sold by the world’s top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from continuing operations in fiscal 2010. For more information, visit www.spectrumbrands.com.