Following the sale of its global batteries business to Energizer, Spectrum Brands today revealed the next step in its previously announced divestment process.
To whit, although Spectrum Brands originally envisaged keeping the Global Auto Care (GAC) business, the company has now entered into an agreement with Energizer Holdings to purchase GAC, whose stable comprises iconic brands like Armor All, STP and A/C PRO.
Also not as originally planned is what's next for Spectrum Brands' Appliance Division, consisting of the Personal Care and Small Appliances businesses, including the Remington, George Foreman and Russell Hobbs brands.
Spectrum Brands now says, in the update on its corporate website, that Appliances have been "reclassified as continuing operations" - which means they're staying put.
Indeed, Amanda Carr, Spectrum Brands' NZ GM, is able to say: "This is good news is we now have a clear direction of what is happening moving forward," she says.
More news soon!