Energizer Holdings, Inc. (ENR)

[Enterprising Investor]

Energizer Announces Filing Of Form 10 Registration Statement For Separation Of Household Products And Personal Care Businesses (2/06/15)

Separation Planned to be Completed by July 1, 2015

ST. LOUIS, Feb. 6, 2015 /PRNewswire/ -- Energizer Holdings, Inc. (NYSE: ENR) today announced the initial filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with the Company's previously announced plan to separate its Household Products and Personal Care businesses. The separation is planned as a tax-free spin-off to the Company's shareholders and is targeted to be completed by July 1, 2015.

"The filing of the Form 10 Registration Statement is one important milestone in executing our plan to separate the Household Products and Personal Care businesses into two stand-alone companies, and we believe we're on track to complete the spin by July 1," said Ward Klein, Energizer's Chief Executive Officer. "This separation will allow each business to pursue its own strategic focus and priorities – with Household Products carrying forward Energizer's legacy of iconic brands, global distribution and meaningful cash flows and Personal Care driving top-line and market share growth through an attractive portfolio of brands and a track record of innovation. We look forward to completing the separation to unlock the full value of each business for shareholders."

As previously announced on April 30, 2014, the Company is pursuing a plan to separate the Household Products and Personal Care businesses and create two independent, publicly traded companies. The Household Products business, with batteries and portable lighting products, will be anchored by the universally recognized Energizer® and Eveready® brands. The Personal Care business will be a pure-play consumer products company with well-established brand names, including Schick® and Wilkinson Sword® in Wet Shave; Edge® and Skintimate® in shave preparation; Playtex®, Stayfree®, Carefree® and o.b.® in Feminine Care; and Banana Boat® and Hawaiian Tropic® in Sun Care.

The initial Form 10 Registration Statement filed today with the SEC includes important information about the Household Products business, such as historical segment sales and profit. The Household Products business has not yet finalized its post-distribution capitalization structure. Pro-forma financial information reflecting the Company's final capital structure and capital allocation policies, among other matters, will be included in a subsequent amendment to the Form 10. The Company also plans to formally present pro-forma financial information to investors closer to separation.

The separation remains subject to the approval of the Board of Directors of Energizer Holdings, Inc. and the satisfaction of certain other customary conditions, including the effectiveness of the Form 10 Registration Statement. Energizer may, at any time until the closing of the separation, decide to abandon, modify or change the terms of the separation.

A copy of the Form 10 Registration Statement is available on the investor page of the Company's website, http://www.energizerholdings.com.

The Company has retained Goldman, Sachs & Co. as financial adviser and Wachtell, Lipton, Rosen & Katz and Bryan Cave LLP as legal counsel to advise on the separation process.

About Energizer:

Energizer Holdings, Inc. is a consumer goods company operating globally in the broad categories of personal care and household products. The Personal Care Division offers a diversified range of consumer products in the wet shave, skin care, feminine care and infant care categories with well-established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Playtex® infant feeding, Diaper Genie® and gloves; Banana Boat® and Hawaiian Tropic® sun care products; and Wet Ones® moist wipes. The Household Products Division offers consumers a broad range of household and specialty batteries and portable lighting products, anchored by the universally recognized Energizer® and Eveready® brands. The Company markets its products throughout most of the world. Energizer Holdings, Inc. is traded on the NYSE under the ticker symbol ENR.

http://www.prnewswire.com/news-releases/energizer-announces-filing-of-form-10-registration-statement-for-separation-of-household-products-and-personal-care-businesses-300032098.html