Spectrum Brands acquires assets of Black Flag and TAT brands from The Homax Group for undisclosed sum, will strengthen its United Industries' Home and Garden product portfolio, share of US$2.5B U.S. consumer pest control market

Michelle Rivera

Michelle Rivera

Nov 1, 2011 – Business Wire

MADISON, Wisconsin , November 1, 2011 (press release) – Spectrum Brands Holdings, Inc., a global consumer products company with market-leading brands, announced today it has acquired the assets of the Black Flag(R) and TAT(R) brands 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.

"This acquisition is an excellent fit with our stated strategy to pursue synergistic, bolt-on acquisitions that expand our product line with strong, complimentary brands and categories, increase and extend our market penetration leveraging the Spectrum Value Model, and provide for manufacturing and distribution synergies," Mr. Lumley added. "The transaction is expected to be accretive, and achieve significant growth opportunities and operational synergies, including additional aerosol and liquid production utilization for our Home & Garden Division's St. Louis manufacturing facility."

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(R)!"

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 United Industries

United Industries Corporation, a subsidiary of Spectrum Brands Holdings, Inc., is the leading manufacturer of value-brand consumer products for the home, lawn and garden, insect and weed control markets in the United States. United Industries provides its customers with innovative products of outstanding quality, so consumers benefit from easier insect and weed control solutions. Its brands -- Spectracide(R), Garden Safe(R), Hot Shot(R), Cutter(R), Repel(R) and Schultz(R) -- are well recognized by consumers for delivering exceptional value and trusted results. United Industries' passion and longstanding commitment to quality and value has earned the confidence of its retail partners, who count on United Industries to deliver innovative and highly profitable products, customized solutions and merchandising excellence. For more information, visit www.unitedindustriescorporation.com .

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(R), Remington(R), Varta(R), George Foreman(R), Black & Decker(R), Toastmaster(R), Farberware(R), Tetra(R), Marineland(R), Nature's Miracle(R), Dingo(R), 8-in-1(R), Littermaid(R), Spectracide(R), Cutter(R), Repel(R), and Hot Shot(R). 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 .

About The Homax Group, Inc.

The Homax Group, Inc. is a consumer and contractor products company that is dedicated to "Making Tough Tasks Easier". The company offers top brands such as Homax(R), Goo Gone(R), Magic(R), SCI(R), Tile-Guard(R) and Natural Magic(R) which are distributed through retail channels across North America. For more information, visit www.homaxproducts.com .

About Olympus Partners

Olympus Partners is a Stamford, Conn.-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including consumer products, healthcare services, financial services, and business services. Olympus manages in excess of $3 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. For more information, visit www.olympuspartners.com .

© 2021 Business Wire, Inc., All rights reserved.


About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.