Spectrum Brands Holdings, Inc. , is an American diversified company established in 2005 as a substitute for Rayovac Corporation . Rayovac has been in Wisconsin since his conception as The French Battery Company in 1906.
The company manufactures and markets home appliances under the brand names Remington, Russell Hobbs and George Foreman, lawn and garden care products under the brand name Spectracide and Garden Safe, and insect repellent under the brand name Cutter and Repel. Spectrum has several pet care companies, both in the aquarium supply and animal trade escort. In the aquarium business, Spectrum has Tetra, Whisper, Marineland, Perfecto, Jungle, Ocean Instant, Vision-Therm, and other product lines. The companion animal line consists of Dingo, Lazy Pet, Wonderbox, and others. Both aquarium lines and companion lines are concentrated into the United Pet Group Spectrum based in Cincinnati, Ohio.
Spectra produced and sold batteries under the brand names Rayovac and Varta, until selling battery divisions to long-time competitors Rayovac Energizer in January 2018.
On February 26, 2018, the company announced a merger with the controlling shareholder shareholder of HRG Group.
Video Spectrum Brands
Histori
In 1906, the French Battery Co. was founded in Madison, Wisconsin, by James Bowen Ramsay (1869-1952), with Alfred Landau as its first president. In 1910, Landau was replaced by C.F. Burgess, and the company became profitable. After the fire destroyed the factory in 1915, Burgess went to set up his own company. Production increased during the First World War, and by 1920, French companies had US $ 2.74 million in sales and 600 employees, and 1,000 employees in 1931.
In 1930, the company name was changed to Ray-O-Vac, a reference to new vacuum tube and electron beam technology. In 1933, the company patented the first wearable vacuum tube hearing aid.
During its ownership by the parent company ESB Industrials, a British subsidiary was established to manufacture and market batteries in the UK under the name Ray-O-Vac. This operation ceased in 1972; Ray-O-Vac batteries continue to be marketed, although produced by British company Ever Ready. In 1988, the name was simplified to Rayovac.
Diversification and name change
In 2003, Rayovac decided to diversify, and acquired non-battery-related businesses including Remington Products and United Pet Group. In 2004, Rayovac successfully underbid Energizer (Eveready) as a supplier of RadioShack batteries and produced a brand of "Enercell" battery sold exclusively on RadioShack. In January 2005, Rayovac purchased United Industries Corporation for $ 476 million in cash and stock. Brands included in United Industries are Vigoro, Spectracide and Sta-Green grass products, Cutter, Hot Shot and Repel insect control products and pet supply products with Marineland, Perfecto, and Eight in One brand. In 2005, Tetra, the premier provider of pet products, was acquired. This diversification drives the change of name from Rayovac to Spectrum Brands.
Rayovac also purchased other battery companies including Varta, Ningbo Baowang, and Microlite S.A. The acquisition of Microlite includes rights on behalf of Rayovac in Brazil, granting corporate rights worldwide to the name Rayovac. With this acquisition, Rayovac consolidates its presence in most countries in Latin America. Rayovac is a recognized brand in the region.
Highly burdened in debt, Spectrum strives to sell its pet division (Aqu Petroleum Group) containing aquarium products and supplies under the brand names Tetra, Marineland, Instant Seas and Forests, and pet care products under Dingo, Firstrax , 8 in 1 and Nature's Miracles brand name. The Salton tool maker, owned by Harbinger Capital hedge fund, agreed to pay about $ 692 million in cash to buy the pet care division, but the deal failed on July 14, 2008. According to Forbes and The Wall Street Journal , sales are rejected by major Spectrum lenders themselves, most likely because the deal value brand is less than what bankers consider to be their value.
On February 3, 2009, Spectrum filed for Chapter 11 bankruptcy protection. The company later emerged from bankruptcy on August 28, 2009. Since emerging from Chapter 11, Spectrum has announced year-on-year sales increases and EBITDA adjustments for the second quarter of fiscal 2010.
Rayovac, as a division of Spectrum Brands, remains headquartered in Madison, Wisconsin, along with Remington even when its parent company, Spectrum Brands, is based in Georgia. On April 15, 2010, Spectrum Brands announced that it would move its Corporate Headquarters back to Madison. Spectrum Brands moved its headquarters to Middleton, Wisconsin in October 2013. Russell Hobbs Inc.
Russell_Hobbs_Inc.
Spectrum Brands completed the merger with Russell Hobbs Inc. (formerly known as Salton, Inc.) on June 16, 2010, to form a new $ 3 billion consumer products company. Brand Russell Hobbs includes George Foreman Grill, Toastmaster, Black & amp; Decker Home Equipments, and Russell Hobbs.
AutoGroup Armored
On April 28, 2015, Spectrum Brands entered the automotive supply business by acquiring the Lapis Baja Auto group, financed jointly by C3 Holdings owned by Texas billionaire heir Henry Sullivan Richardson from San Antonio and Mr. Christopher Maddox Bass from Fort Worth Texas, who makes Armor All finish and STP automotive chemicals among other products.
HRG Group
On January 16, 2018, Rayovac's division was purchased by Energizer for $ 2 billion. On February 26, 2018, Spectrum Brands announced to join the controlling shareholder of HRG Group, Inc. The move will not affect the delayed sales of its battery division to Energizer. Spectrum management is expected to run the combined entity. The combined company will be named Spectrum Brand Holdings, Inc. and trades under SPB ticker symbol. The company will remain in Middleton.
Maps Spectrum Brands
Battery products
Rayovac produces alkaline batteries ranging from AAA to 9V, rechargeable NiMH batteries, hearing aid batteries, lithium photo batteries, special batteries and portable chargers. In addition, various portable LED flashlights and lanterns are manufactured under the Rayovac brand.
References
Further reading
- Noor, Robert; et al., "RAYOVAC Case Analysis", Southern Methodist University (archived 2006).
External links
- Official site
- Remington AS
- Russell Hobbs US
- Russell Hobbs UK
- Remington UK
- Juicer
- Breadman
- Rayovac Records at the Wisconsin Historical Society
Source of the article : Wikipedia
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