Spectrum Brands Holdings Inc (SPB)

[Enterprising Investor]

Spectrum Brands Completes Refinancing to Further Strengthen its Balance Sheet and Liquidity (6/24/15)

MIDDLETON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE:SPB), a global consumer products company with market-leading brands, said today it has further strengthened its balance sheet and improved liquidity by completing a restructuring and refinancing of its capital structure.

The Company has completed the replacement of its term loan indebtedness, moved to a new $500 million cash flow revolving credit agreement from a smaller asset-backed lending facility, and retired its $300 million aggregate principal amount of 6.75% Senior Notes. These actions follow the recent $575 million equity issuance and $1 billion amount of 5.75% Senior Notes issued to fund the acquisition of Armored AutoGroup Parent Inc. (Armored AutoGroup) on May 21st and the retirement of high cost debt assumed in that transaction.

“These important term loan and credit facility transactions have allowed us to consolidate debt tranches, extend maturities and significantly increase our operating liquidity and flexibility at historically low interest rates,” said Andreas Rouvé, Chief Executive Officer of Spectrum Brands Holdings. “We are pleased to have further strengthened our balance sheet and simplified our capital structure as we execute our long-term strategy and growth plans and begin to rapidly de-lever following our accretive acquisition of the Armored AutoGroup.”

“We have quickly begun the integration of Armored AutoGroup,” Mr. Rouvé said, “and are moving forward on action plans to accelerate the growth of the market-leading Armor All®, STP® and A/C PRO® brands here and abroad.”

“Our Company has completed a number of very significant and value-creating moves in recent weeks that position Spectrum Brands for accelerated growth and expansion in the months and years ahead,” said David Maura, Chairman of the Board of Spectrum Brands. “We will continue to grow our adjusted EBITDA and sustainable free cash flow while maintaining a strong balance sheet. As I’ve said before, I believe our best days are still ahead of us.”

About Spectrum Brands Holdings, Inc. and Spectrum Brands, Inc.

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, and auto care products. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, George Foreman®, Black + Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP® and A/C PRO®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 160 countries. Based in Middleton, Wisconsin, Spectrum Brands Holdings generated net sales of approximately $4.43 billion in fiscal 2014.

http://www.businesswire.com/news/home/20150624006487/en/Spectrum-Brands-Completes-Refinancing-Strengthen-Balance-Sheet#.VY1QnInbKUk

[Enterprising Investor]

HRG Group, Inc. owns 34,240,889 shares (5/20/15)

Controls 57.5 percent.

HRG acquired 3,045,945 Shares in the Issuer’s registered public offering which closed on May 20, 2015 at a price of $92.50 per Share, which was equal to the price to the public per Share in the offering.

http://www.sec.gov/Archives/edgar/data/109177/000095014215001184/eh1500710_13da14-sbhi.htm

[Enterprising Investor]

Spectrum Brands Holdings Completes Acquisition of Armored AutoGroup (5/21/15)

MIDDLETON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE: SPB), a global and diversified consumer products company with market-leading brands, announced today it has completed the acquisition of Armored AutoGroup Parent Inc. (Armored AutoGroup) from Avista Capital Partners for $1.4 billion in cash and assumed debt. A definitive merger agreement was announced on April 28.

Armored AutoGroup is a consumer products company consisting primarily of the world-renowned Armor All® and STP® brands, two of the most recognizable brands in the automotive aftermarket appearance products and performance chemicals/additives categories, and the market-leading A/C PRO® brand in the do-it-yourself automotive air conditioner recharge category.

“We are pleased to complete this exciting and accretive acquisition which adds market-leading, iconic brands in attractive auto care retail categories to Spectrum Brands’ diverse portfolio of strong consumer brands,” said Andreas Rouvé, Chief Executive Officer of Spectrum Brands Holdings. “This highly profitable business is expected to enhance our margins and free cash flow profile, further improve our customer mix and shelf space in complementary channels, offer substantial international growth potential by leveraging our existing global infrastructure, and enhance our overall scale and product diversification with a new, large and growing do-it-yourself auto care aftermarket category.

“We look forward to working with the employees of Armored AutoGroup to achieve a smooth integration and accelerate the growth of the Armor All®, STP® and A/C PRO® brands here and abroad,” Mr. Rouvé said.

David Maura, Chairman of the Board of Spectrum Brands, said, “Our acquisition of Armored AutoGroup is a perfect fit with our strategy to buy and build high brand equity businesses, with strong margin structures, low capital spending requirements, and significant free cash flow generation. We welcome the Armored AutoGroup employees to the Spectrum Brands family and look forward to driving this outstanding business to even greater levels of performance and delivering outstanding quality, innovation and service to our customers. We also remain committed to maintaining a strong balance sheet and fully intend to deploy our growing free cash flow stream to rapidly delever our balance sheet as we have in the past.”

Armored AutoGroup will be a separate reporting segment within Spectrum Brands, known as Global Auto Care (GAC), reporting to Chief Executive Officer Andreas Rouvé.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, plumbing and accessories, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, and auto care products. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, George Foreman®, Black + Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP® and A/C PRO®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 160 countries. Based in Middleton, Wisconsin, Spectrum Brands Holdings generated net sales of approximately $4.43 billion in fiscal 2014. For more information, visit www.spectrumbrands.com.

About Avista Capital Partners

Avista Capital Partners is a leading private equity firm with approximately $6 billion under management and offices in New York, Houston and London. Founded in 2005, Avista makes controlling or influential minority investments in growth-oriented energy, healthcare and communications & media businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses.

http://www.businesswire.com/news/home/20150521006354/en/Spectrum-Brands-Holdings-Completes-Acquisition-Armored-AutoGroup#.VV5he4nbKUk

[Enterprising Investor]

Spectrum Brands will buy Armor All and STP maker for $1.4B (4/28/15)

NEW YORK (AP) -- Spectrum Brands said Tuesday it is buying Armored AutoGroup, the maker of Armor All and STP car care products, in a deal it's valuing at $1.4 billion.

With the acquisition, Spectrum Brands will get Armor All's protectants, tire and wheel care products, and air fresheners, as well as STP's fuel additives, and A/C Pro air conditioner recharge products.

It is buying Armored, which has about $440 million in annual sales, from the private equity firm Avista Capital Partners. Spectrum Brands said the deal price includes assumed debt and it will pay for it with a combination of new debt and $500 million of its stock. It expects to complete the acquisition by June 30.

Spectrum Brands owns Kwikset locks, George Forman grills, Black & Decker power tools and home improvement products, Rayovac batteries and Farberware cookware.

The Middleton, Wisconsin-based company reported $4.43 billion in sales in its last fiscal year. It recently bought the European operations of the Iams and Eukanuba pet care brands, and acquired dog treat maker Salix Animal Health in a separate deal.

Shares of Spectrum Brands Holdings Inc. rose 49 cents to $88.08 Tuesday, but they are down almost 8 percent in 2015. The stock fell 71 cents to $87.37 in aftermarket trading.

[Enterprising Investor]

HRG Group, Inc. Announces Armored AutoGroup Acquisition By Spectrum Brands (4/28/15)

NEW YORK, April 28, 2015 /PRNewswire/ -- HRG Group, Inc. ("HRG") (NYSE: HRG), a diversified holding company focused on owning and acquiring businesses that it believes can, in the long term, generate sustainable free cash flow or attractive returns on investment, announced that its majority owned subsidiary, Spectrum Brands ("Spectrum"), has agreed to acquire Armored AutoGroup Parent Inc. ("Armored AutoGroup"), the leader in the US automotive aftermarket appearance category.

Spectrum expects to finance the $1.4 billion cash purchase price of the acquisition and the related fees and expenses through a combination of new debt and approximately $500 million of Spectrum common stock. HRG's board has approved HRG's participation in the Spectrum common stock issuance. The relevant transactions are expected to occur before the close of the quarter ending June 30, 2015.

"We are excited about this acquisition and the opportunities it presents for Spectrum. The Spectrum team has a superior track record of successfully integrating acquisitions, realizing meaningful synergies from newly-acquired assets and building sustainable free cash flow," said Omar Asali, President and Chief Executive Officer of HRG. "The acquisition of Armored AutoGroup is expected to substantially increase Spectrum's top and bottom lines, while also significantly diversifying its revenue and product portfolio."

About HRG Group, Inc.

HRG Group, Inc. (formerly "Harbinger Group Inc.") is a diversified holding company focused on owning and acquiring businesses that the Company believes can, in the long term, generate sustainable free cash flow or attractive returns on investment. The Company's principal operations are conducted through businesses that: offer branded consumer products (such as consumer batteries, residential locksets, residential builders' hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, personal insect repellents); offer life insurance and annuity products; provide asset-backed loans; and own energy assets. Although the Company intends to own or seek to acquire controlling equity interests, the Company may also make investments in debt instruments and hold minority equity interests in companies. For more information, visit: www.HRGgroup.com.

http://www.prnewswire.com/news-releases/hrg-group-inc-announces-armored-autogroup-acquisition-by-spectrum-brands-300073849.html

[Enterprising Investor]

Spectrum Brands Holdings Acquires Salix Animal Health, World’s Largest Vertically Integrated Rawhide Dog Treat Company (1/20/15)

MIDDLETON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE: SPB), a global and diversified consumer products company with market-leading brands, announced today it has acquired privately owned Salix Animal Health, LLC, the world’s leading and largest vertically integrated producer and distributor of premium, natural rawhide dog chews, treats and snacks with annual revenues of approximately $100 million. Financial terms of the accretive, all-cash transaction were not disclosed.

“Salix will further strengthen, expand and diversify our Pet segment’s position in rawhide dog treats, which is a fast-growing pet sub-category with estimated annual global retail sales of $2 billion,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “It will provide important channel and brand differentiation for Pet’s North American Dingo® business, along with immediate revenue opportunities in Europe and Latin America.”

Founded in 1988, Salix offers a comprehensive line of chews made from beef hides, pork, chicken, beef and other various proteins. Salix branded and private label products are sold to mass merchandisers, grocery stores, pet specialty stores and warehouse clubs. Its two flagship brands are Healthy-Hide® – which is marketed across the Good ‘n’ Fun, Good ‘n’ Fit, and Good ‘n’ Tasty family of brands – and Digest-eeze™. The business has strong patents around flavors and digestibility.

Salix has a flexible supply chain, including multiple manufacturing plants in Brazil, Ecuador, Mexico and two in Colombia, which will give Spectrum Brands’ Pet business increased optionality for a low-cost global rawhide production and supply network.

“Salix is an excellent opportunity for us in a number of ways, including the ability to expand our strong Dingo® dog treats business with complementary product offerings, enhance our intellectual property and innovation with the Digest-eeze™ enzyme technology, and provide an improved vertically integrated sourcing model in the Americas,” said David Maura, Chairman of the Board of Spectrum Brands Holdings. “This deal is a classic ‘plug and play’ acquisition for us, with immediate synergies on the cost side and very attractive top-line growth opportunities globally. I welcome Salix to the Spectrum Brands family of businesses, and I am personally excited about our future together as we take this business to new heights.”

About Spectrum Brands’ Global Pet Supplies Business

With fiscal 2014 net sales of $600 million, Spectrum Brands’ Global Pet Supplies business is the leading manufacturer of consumer products for pet supply markets globally. It provides innovative and well recognized products of outstanding quality for pet owners, including dogs, cat, birds, small animals, fish and reptiles. In aquatics, Tetra® is the premium brand name with products including fish food and water treatments, aquariums, filters, heaters, pumps and other supplies. Companion pet products include treats, clean-up and training aid products, health and grooming aids, and bedding marketed under brands such as 8-in-1®, Dingo®, FURminator®, Nature’s Miracle®, IAMS® and Eukanuba®. For more information, visit www.unitedpetgroup.com.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, George Foreman®, Black & Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS®, Eukanuba®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag® and Liquid Fence®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 160 countries. Based in Middleton, Wisconsin, Spectrum Brands Holdings generated net sales of approximately $4.43 billion in fiscal 2014. For more information, visit www.spectrumbrands.com.

http://www.businesswire.com/news/home/20150120005209/en/Spectrum-Brands-Holdings-Acquires-Salix-Animal-Health#.VL6wsYktGUk

[Enterprising Investor]

Spectrum Brands Completes Acquisition of Residential Lockset Business of Tong Lung Metal Industry Co. Ltd. (4/08/13)

MADISON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE: SPB) announced today that it has completed the acquisition of the residential lockset business of Tong Lung Metal Industry Co. Ltd. (Tong Lung), a Taiwanese manufacturer of residential and commercial locksets and related hardware, in connection with Spectrum Brands’ accretive cash purchase of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker, Inc. (NYSE: SWK) on December 17, 2012. The commercial lockset business of Tong Lung will remain with Stanley Black & Decker.

A total of $100 million of the $1.4 billion HHI purchase price had been held in escrow until the closing of the Tong Lung portion of the HHI acquisition. The purchase includes the Tong Lung Metal Industry Co. Ltd. name, a major residential lockset manufacturing plant in Subic Bay, Philippines and sales, R&D and engineering operations for tooling and new product development in Taiwan. For the 12 months ended December 31, 2011, the Tong Lung residential business had sales of approximately $48 million, excluding sales to HHI. Tong Lung’s residential OEM and branded lockset sales are primarily to customers in North America, Asia and Latin America. Tong Lung branded products are predominantly sold under its EZSET brand.

With manufacturing operations in the Philippines and Taiwan, Tong Lung further diversifies and vertically integrates HHI’s supply chain and expands capacity for high quality tubular, electronic, mortise and cylindrical lockset manufacturing and hardware manufacturing that will accelerate HHI’s global growth initiatives.

Tong Lung’s existing sales and distribution channels throughout Asia and Latin America provide immediate new growth opportunities for HHI’s international lock and electronic security products. HHI’s focus on innovation in both traditional and electronic product categories will be enhanced through Tong Lung’s manufacturing tooling center and robust, in-house engineering and R&D capabilities, which will add velocity and breadth to new product introductions.

HHI is a major manufacturer and supplier of residential locksets, residential builders’ hardware and faucets for residential applications with a portfolio of renowned brands, including Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET. HHI is a leader in its key markets with #1 positions in U.S. residential locksets (Kwikset), Canada residential locksets (Weiser), U.S. luxury locksets (Baldwin), and U.S. builders’ hardware (Stanley/National Hardware), and a top 5 position in U.S. faucets (Pfister).

About Spectrum Brands Holdings

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, VARTA®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 140 countries. Spectrum Brands Holdings generated net sales of approximately $3.25 billion in fiscal 2012. On a pro forma basis following the Company’s December 2012 acquisition of the Hardware & Home Improvement Group (HHI) from Stanley Black & Decker, Spectrum Brands had net sales of more than $4 billion for fiscal 2012. For more information, visit www.spectrumbrands.com.

Forward-Looking Statements

Certain matters discussed in this news release and other oral and written statements by representatives of the Company regarding the HHI acquisition and matters such as expected sales, adjusted EBITDA, other measures of financial performance, and the financial impact of other acquisitions may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially as a result of (1) Spectrum Brands Holdings' ability to manage and otherwise comply with its covenants with respect to its significant outstanding indebtedness, (2) our ability to integrate, and to realize synergies from, the combined businesses of Spectrum Brands and HHI, and from our purchase of 56 percent of the equity of Shaser, Inc., and from other bolt-on acquisitions, (3) risks related to changes and developments in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (4) changes in consumer demand for the various types of products Spectrum Brands Holdings offers, (5) unfavorable developments in the global credit markets, (6) the impact of overall economic conditions on consumer spending, (7) fluctuations in commodities prices, the costs or availability of raw materials or terms and conditions available from suppliers, (8) changes in the general economic conditions in countries and regions where Spectrum Brands Holdings does business, such as stock market prices, interest rates, currency exchange rates, inflation and consumer spending, (9) Spectrum Brands Holdings' ability to successfully implement manufacturing, distribution and other cost efficiencies and to continue to benefit from its cost-cutting initiatives, (10) Spectrum Brands Holdings' ability to identify, develop and retain key employees, (11) unfavorable weather conditions and various other risks and uncertainties, including those discussed herein and those set forth in Spectrum Brands Holdings' and Spectrum Brands' securities filings, including the most recently filed Annual Report on Form 10-K for Spectrum Brands, Inc. or Quarterly Reports on Form 10-Q. Spectrum Brands Holdings also cautions the reader that its estimates of trends, market share, retail consumption of its products and reasons for changes in such consumption are based solely on limited data available to Spectrum Brands Holdings and management's reasonable assumptions about market conditions, and consequently may be inaccurate, or may not reflect significant segments of the retail market.

Spectrum Brands Holdings also cautions the reader that undue reliance should not be placed on any forward-looking statements, which speak only as of the date of this release. Spectrum Brands Holdings undertakes no duty or responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes.

Contacts

Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard, 608.278.6141

http://www.businesswire.com/news/home/20130408005560/en/Spectrum-Brands-Completes-Acquisition-Residential-Lockset-Business

[dmoskowitz]

DANGER DANGER, SPECTRUM BRANDS. BREAKING RESEARCH

DONALD SHEKELS CLAIMS THIS IS A FRAUD. TELLING THE MARKET MAKERS...OH NO!

http://cycleofstructurednonsense.blogspot.com/search/label/harbinger

THANKS,

Donna

[dmoskowitz]

Danger!!! House of Cards, SPB soaked in gas about to ignite


I would avoid this thing like the plauge. Philip Falcone has no interest in making YOU money, quite the opposite, hes there to take it. This thing is a joke, billions in batteries which they most likely advance to stores with the obligation to buy them back if they don't sell? LOL

Come on guys, this is a big time short at the highs of the market. Get short and contact every bond holder showing them the pump and dump facts!

Shorts Win! Falcone Losses! Double Win!

Donny is my Hero! I got put options coming out of my ears!

MAJOR BREAKING SHORT SELLER REPORT ON SPECTRUM BRANDS AND HARBINGER GROUP INC. WARN EVERYONE

Harbinger Group Inc, Spectrum Brands, and Philip Falcone’s next LightSquared

Dally

[dmoskowitz]

Spectrum Brands and Accounting Irregularities (Falcone=Crook?)

Scary Report Guys...
http://cycleofstructurednonsense.blogspot.com/2012/10/the-bear-case-against-philip-falcone.html

[Enterprising Investor]

SPB to Acquire Stanley Black & Decker’s Hardware & Home Improvement Group for $1.4 Billion in Cash (10/09/12)

Adds leading maker of residential locksets, residential builders’ hardware and faucets with #1 positions in key North American markets and portfolio of renowned brands

• Increases Spectrum Brands’ top-line growth and margins and is expected to be significantly and immediately accretive to EPS, EBITDA and free cash flow

• Increases Spectrum Brands’ scale and product diversity, further strengthens relationships with core retail partners, provides attractive cross-selling opportunities, and creates platform for significant future global growth

• Brings best-in-class Hardware & Home Improvement team with proven track record of product innovation, operational excellence and cost-efficiency

• Strong free cash flow will enable Spectrum Brands to deleverage balance sheet to return to total leverage ratio of 2.5-3.5x in approximately two years

• Company reaffirms plan to make regular quarterly dividend payments of $0.25 per share and will evaluate increasing dividend in future years based on free cash flow growth

MADISON, Wis.--(BUSINESS WIRE)--Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company with market-leading brands, announced today that it has signed a definitive agreement to acquire the Hardware & Home Improvement Group (“HHI”) of Stanley Black & Decker, Inc. (NYSE: SWK) for $1.4 billion in cash.

HHI is a manufacturer of residential locksets, residential builders’ hardware and faucets for residential applications with such renowned brands as Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET. HHI is a leader in its key markets with #1 positions in U.S. residential locksets (Kwikset), Canada residential locksets (Weiser), U.S. luxury locksets (Baldwin), and U.S. builders’ hardware (Stanley/National Hardware), and a top 5 position in U.S. faucets (Pfister).

HHI generated net sales of approximately $985 million and adjusted EBITDA of $188 million for the 12 months ended June 30, 2012.1 Approximately 85 percent of HHI’s annual revenues are generated in North America, with more than 40 percent coming through U.S. home improvement centers.

The acquisition is expected to increase Spectrum Brands’ top-line growth and margins, and to be immediately accretive to EPS, EBITDA and free cash flow before synergies. EPS accretion pro forma for a full year of results is expected to be between $0.75 to $0.80 per share in fiscal 2013 and EPS accretion in fiscal 2014 is expected to exceed $1.00 per share, excluding one-time transaction and integration costs and including synergies. The acquisition also is expected to add more than an incremental $90 million of free cash flow in the first two years after closing.

“This is a good acquisition for Spectrum Brands that will increase total revenues to over $4 billion and add renowned brands with top market share positions in the growing and profitable hardware and home products business,” said Dave Lumley, Chief Executive Officer of Spectrum Brands. “The scale and expanded product offering we gain will further balance our sales profile and provide exciting cross-selling opportunities from expanding sales of Spectrum Brands’ products to major U.S. home improvement centers and increasing HHI sales to leading global mass merchants and other Spectrum Brands’ retailers. Spectrum’s and HHI’s product lines are completely complementary, significantly expanding our portfolio of products. HHI will also give us an additional platform for global growth using our existing international infrastructure, as well as entry into the growing market of integrated residential security, fire and lighting solutions.”

Mr. Lumley continued, “We remain committed to a strong balance sheet, including our long-term objective of achieving a total leverage ratio between 2.5 and 3.5 times. HHI’s strong operating margins and relatively low capital intensity are expected to generate significant free cash flow, helping us to repay debt and return to our current leverage ratio in approximately two years. We are also reaffirming plans to initiate a regular quarterly dividend of $0.25 per share in fiscal 2013, and will evaluate increasing the dividend in future years based on free cash flow growth.”

On a combined basis for the 12 months ended July 1, 2012, HHI would have accounted for 23 percent of Spectrum Brands’ total revenues and 28 percent of adjusted EBITDA.i On the same basis for Spectrum Brands’ three current segments, Global Batteries & Appliances would have accounted for 53 percent of revenues and 46 percent of adjusted EBITDA; Home & Garden would have accounted for 9 percent of revenues and 13 percent of adjusted EBITDA; and Pet Supplies would have accounted for 14 percent of revenues and 16 percent of adjusted EBITDA, in each case, excluding corporate/unallocated items from segment EBITDA.

Following the closing of the transaction, HHI will operate as a separate unit within Spectrum Brands and be managed by Greg Gluchowski, current President of the HHI Group at Stanley Black & Decker. He will report to Spectrum Brands CEO David Lumley and will continue to oversee a highly experienced HHI management team with a proven track record of innovation, operational excellence and profitable growth.

Mr. Lumley said, “We welcome Greg and his outstanding team from HHI. He is a proven leader, with a strong record of driving profitable growth and product innovation and development. We look forward to Greg and his team playing strong roles in the continued growth and success of Spectrum Brands.”

“Spectrum Brands and HHI share the common goals of building and growing strong consumer brands with a dedication to innovative product design and technology,” said Mr. Gluchowski. “We are excited to join the Spectrum Brands team, and look forward to being a strong and significant contributor to the overall business as we continue to grow HHI globally.”

David Maura, Chairman of Spectrum Brands and Managing Director and Executive Vice President of Harbinger Group, Inc. (NYSE: HRG), Spectrum Brands’ majority shareholder, said, “We continue to be strong supporters of Spectrum Brands and believe there is significantly more value to be realized in the years ahead. Through both organic growth and acquisitions, Spectrum Brands has built a profitable $3 billion global consumer products company with a diverse stable of well-known and largely non-discretionary replacement brands. The addition of HHI is consistent with our strategy and we are confident that we are acquiring the business at an attractive entry point and that the benefits of our increased scale, diversity, margins and free cash flow generation will accrue to our shareholders over time.”

Transaction Details

The acquisition of HHI also includes certain assets of Tong Lung Metal Industry Co. Ltd. (“Tong Lung”), a Taiwanese manufacturer of residential and commercial locksets with facilities in Taiwan and the Philippines. Spectrum Brands will pay $1.4 billion in cash at closing for HHI and the Tong Lung assets, adjusted for net debt and working capital. The purchase price and associated transaction fees and expenses are expected to be funded through a new term loan, which will replace the Company’s existing term loan credit facility, and new senior unsecured notes through the Company’s wholly owned subsidiary Spectrum Brands, Inc. As part of this transaction, Spectrum Brands has received financing commitments from Deutsche Bank and Barclays.

The transaction is expected to close in two stages. The financing and the acquisition of HHI are expected to close during the Company’s first quarter of fiscal 2013 ending December 31, 2012. The acquisition of the Tong Lung assets is expected to occur during the Company’s second quarter of fiscal 2013. $100 million of the purchase price will be held in escrow from the financing until the subsequent closing of the Tong Lung portion of the acquisition. The closing of the transaction, which has been approved by the Boards of Directors of both Spectrum Brands and Stanley Black & Decker, is subject to customary closing conditions, including receipt of applicable regulatory approvals.

Spectrum Brands’ lead financial advisor for this transaction is Deutsche Bank and its legal advisor is Paul, Weiss, Rifkind, Wharton & Garrison LLP. Barclays also advised Spectrum Brands on the transaction.

Conference Call

Spectrum Brands will host a conference call today, October 9, 2012 at 8:30 a.m. Eastern Time (7:30 a.m. Central Time), to discuss the announcement, which can be accessed as follows:

North America: 800.591.6944
International: 617.614.4910
Participant Pass Code: 32366958

A slide presentation and live audio webcast will be available through the investor relations section of Spectrum Brands’ website at www.spectrumbrands.com. A replay of the conference call also will be available through the Company’s website.

Supplemental information regarding the proposed acquisition of HHI will be available in the investor relations section of the Company’s website at www.spectrumbrands.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®, Remington®, Varta®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. 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. Spectrum Brands Holdings generated net sales of approximately $3.2 billion in fiscal 2011. For more information, visit www.spectrumbrands.com.

Forward-Looking Statements

Certain matters discussed in this news release and other oral and written statements by representatives of the Company regarding the HHI acquisition and matters such as expected sales, adjusted EBITDA, other measures of financial performance, and the financial impact of other acquisitions may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially as a result of (1) Spectrum Brands Holdings' ability to manage and otherwise comply with its covenants with respect to its significant outstanding indebtedness, (2) the inability to integrate, and to realize synergies from, the combined businesses of Spectrum Brands and its acquired companies, including HHI, FURminator, Russell Hobbs and other acquisitions, (3) changes and developments in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (4) changes in consumer demand for the various types of products Spectrum Brands Holdings offers, (5) unfavorable developments in the global credit markets, (6) the impact of overall economic conditions on consumer spending, (7) fluctuations in commodities prices, the costs or availability of raw materials or terms and conditions available from suppliers, (8) changes in the general economic conditions in countries and regions where Spectrum Brands Holdings does business, such as stock market prices, interest rates, currency exchange rates, inflation and consumer spending, (9) Spectrum Brands Holdings' ability to successfully implement manufacturing, distribution and other cost efficiencies and to continue to benefit from its cost-cutting initiatives, (10) Spectrum Brands Holdings' ability to identify, develop and retain key employees, (11) unfavorable weather conditions and various other risks and uncertainties, including those discussed herein and those set forth in Spectrum Brands Holdings' and Spectrum Brands' securities filings, including the most recently filed Annual Report on Form 10-K for Spectrum Brands, Inc. or Quarterly Reports on Form 10-Q. Spectrum Brands Holdings also cautions the reader that its estimates of trends, market share, retail consumption of its products and reasons for changes in such consumption are based solely on limited data available to Spectrum Brands Holdings and management's reasonable assumptions about market conditions, and consequently may be inaccurate, or may not reflect significant segments of the retail market.

Spectrum Brands Holdings also cautions the reader that undue reliance should not be placed on any forward-looking statements, which speak only as of the date of this release. Spectrum Brands Holdings undertakes no duty or responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes.

http://www.businesswire.com/news/home/20121009005737/en/Spectrum-Brands-Holdings-Acquire-Stanley-Black-Decker%E2%80%99s

[Penny Roger$]

~ $SPB ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $SPB ~ Earnings expected on Monday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=SPB&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=SPB&p=W&b=3&g=0&id=p54550695994



~ Barchart: http://barchart.com/quotes/stocks/SPB?
~ OTC Markets: http://www.otcmarkets.com/stock/SPB/company-info
~ Google Finance: http://www.google.com/finance?q=SPB
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=SPB#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=SPB+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=SPB
Finviz: http://finviz.com/quote.ashx?t=SPB
~ BusyStock: http://busystock.com/i.php?s=SPB&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=SPB&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=SPB
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=SPB
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~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SPB
~ MarketWatch: http://www.marketwatch.com/investing/stock/SPB/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=SPB
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=60&color=g


http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[Penny Roger$]

~ $SPB ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $SPB ~ Earnings expected on Friday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=SPB&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=SPB&p=W&b=3&g=0&id=p54550695994



~ Barchart: http://barchart.com/quotes/stocks/SPB?
~ OTC Markets: http://www.otcmarkets.com/stock/SPB/company-info
~ Google Finance: http://www.google.com/finance?q=SPB
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=SPB#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=SPB+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=SPB
Finviz: http://finviz.com/quote.ashx?t=SPB
~ BusyStock: http://busystock.com/i.php?s=SPB&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=SPB&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=SPB
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=SPB
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=SPB
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=SPB
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SPB
~ MarketWatch: http://www.marketwatch.com/investing/stock/SPB/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=SPB
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=SPB&size=l&frequency=60&color=g


http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[bonis]

LOTS OF INSIDER PURCHASES!!!!!

[RonnieD]

"As we continue to strengthen our balance sheet, we will look to return cash to our shareholders through stock repurchases and possible future dividends,” said David Maura, Chairman of the Board of Directors of Spectrum Brands Holdings. "This action is based upon the confidence our Board has in our business going forward.”

pectrum Brands Holdings Board of Directors Approves New $30 Million Common Stock Repurchase Program

MADISON, Wis., Oct 18, 2011 (BUSINESS WIRE)

http://phx.corporate-ir.net/phoenix.zhtml?c=75225&p=irol-newsArticle&ID=1618206&highlight=

[RULiquid]

wow I bet...

[DesertRat1]

Our favorite CEO, Hussey, retires:
http://finance.yahoo.com/news/Spectrum-Brands-Names-David-bw-19410260.html?x=0&.v=1

[mc_squared]

I got screwed out of 20,000 Shares. At least have the decency to do a reverse split for those who stuck with you. Thanks for nothing Spectrum Brands, I'm boycotting all your products.

[Zurke]

Bye Bye. Oh well it was great while it lasted. Too bad they had to screw some folks to get to $21.00.

[mkinhaw]

$21.00 trading
MK

[mkinhaw]

No idea
just going to keep checking
MK

[Johhny 5]

Any guess on the price if and when it opens?

[mkinhaw]

Pretty sure
but I think we will see a big spread come tomorrow
MK

[AKAPAK]

Will be interesting. Is it the "new" company?

[mkinhaw]

SPEB tomorrow

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/31/2009&mkt_ctg=OTCBB

MK

[Samello]

READ THE REPORT
They don't even know if they are going to place it with an exchange let alone what the symbol will be.

[AKAPAK]

SPCBQ - shares are cancelled and delisted. No new symbol until co refiles; 2010 in PR I think.

[Golfteaser1]

Still unable to find new symbol this A.M.

[RULiquid]

norkel not sure yet

[mkinhaw]

Not yet known
keep watching daily list
it will show there eventually
MK

[norkel]

under what symbol ?
tia

[Zurke]

Are we back to playing? Or are there any hidden mines? I think this will be very volatile at start up.

[RULiquid]

Spectrum Brand's old common stock has been extinguished and no financial distribution will be made to holders of the old common stock. The company's bondholders are being issued 27 million shares of new common stock and $218 million in 12 percent senior subordinated toggle notes due 2019. The new shares are expected to trade initially on the Pink Sheets.

[RULiquid]

Spectrum Brands exits Chapter 11

http://atlanta.bizjournals.com/atlanta/stories/2009/08/24/daily94.html

Spectrum Brands Inc. reported Friday it is out of bankruptcy and it closed on a previously announced $242 million exit financing facility provided by several financial institutions led by GE Capital.

Spectrum Brands and its U.S. subsidiaries filed for Chapter 11 in the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division on Feb. 3. It had $4.4 billion in debt.

The Atlanta-based consumer products company said Friday its suppliers will be paid in full within the next few weeks for all valid outstanding invoices for goods and services.

Spectrum Brand's old common stock has been extinguished and no financial distribution will be made to holders of the old common stock. The company's bondholders are being issued 27 million shares of new common stock and $218 million in 12 percent senior subordinated toggle notes due 2019. The new shares are expected to trade initially on the Pink Sheets.

Some 3 million shares of new common stock are being issued to supplemental and sub-supplemental participants in the company's debtor-in-possession loan facility pursuant to an equity fee provision.

Spectrum's board of directors has not yet decided if the company be listed on an exchange. The company said it plans to continue to make public filings and disclosures as it has in the past.

"We have achieved significant debt reduction while maintaining our strong brand reputations and solid relationships with our suppliers and customers," said Kent Hussey, CEO of Spectrum Brands, in a statement. "Importantly, our businesses continued to perform remarkably well throughout this process, expanding our market share in many key product categories, including major brands in all three of our business segments."

Spectrum makes Rayovac batteries, Tetra pet supplies, Remington shaving and grooming and personal care products, household insecticides and lawn and garden care products.

[mkinhaw]

Thats all shares will be cxld

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=spcbq

MK

[Arnold25764]

When will the final verdict be announced?

[AKAPAK]

Stay of order is good for shareholders. At least there is chance to convince the judge what crooks the management / certain bondholders are, IMO

[chester314]

Appeal / Stay update:

The circuit court judge denied the stay on Friday. Equity committee filed notice of appeal with 5th circuit appeals court and was granted a further stay yesterday. TBD how long the stay lasts or what the appeals court does but it looks like the BK exit will not happen until the appeals court makes a decision of some type


IN THE UNITED STATES COURT OF APPEALS
FOR THE FIFTH CIRCUIT

No. 09~50664

OFFICIAL COMMITTEE OF EQUITY SECURITY HOLDERS OF SPECTRUM JUNGLE LABS CORP. Appellant

v.

SPECTRUM JUNGLE LABS CORP, Appellee

Appeal from the United States District Court for the Western District of Texas, San Antonio

Before JOLLY, WIENER, and ELROD, Circuit Judges. PER CURIAM:

The order ofthe district court, denying a stay of the July 15, 2009 confirmation order of the bankruptcy court, is suspended until further order of this court. All proceedings in the bankruptcy and district courts are stayed until further order of this court. This Order contemplates that the plan will not be implemented until this court rules on the matters now pending before it.

SO ORDERED, this the 27th day ofJuly, 2009.

[AKAPAK]

Headsup - ut'ing a little today.

[Arnold25764]

Would be nice because this one keeps falling....

[AKAPAK]

Equity Committee had appeal hearing on 27th and awaiting answer, maybe Monday. However, even if successful, this will only give them another chance at convinicing a (more reasonable) judge of the company's attempt to cheat the shareholders.

Hope they beat those cheats.

[Arnold25764]

Not really sure. I know I wouldn't be trading it anymore.

[chester314]

As I understand it the 10 day stay was to allow time for a different judge in a different court to hear the Equity Committee case to further stay the bankruptcy confirmation so an appeal can be heard.

The hearing of the motion to stay (beyond the current 10 day stay) was yesterday morning and the judge is supposed to return a ruling by COB tomorrow.

A positive ruling doesn't mean anything other than the BK can't be finalized for some TBD period of time but a ruling to lengthen the stay will be a positive sign nevertheless. If the judge denies a further stay I believe the equity committee has one more court it can appeal to.

[SATELLITE]

I am wishful thinking, I hate to loose, maybe some of the big bucks will win the appeal to roll over to new stock. I'M hanging till the end.

[SATELLITE]

I am wishful thinking, I hate to loose, maybe some of the big bucks will win the appeal to roll over to new stock. I'M hanging till the end.

[Zurke]

Even though I missed the last rise, I am happy where I am standing and will not play this penny again until I hear more about their situation.

[SATELLITE]

If the stock is gone, why is the stock still tading?
Also there is an appeal for common stock that is still good till 07/28/09.

[Arnold25764]

Say BYE, BYE!!

[SATELLITE]

THE Q IS HERE, NOW WHAT.

[DesertRat1]

ah, there it is.