Wired News – Energizer Holdings Signs Agreement to Acquire Reed-Union’s Nu Finish Brands

LONDON, UK / ACCESSWIRE / June 28, 2018 / If you want access to our free research report on Energizer Holdings, Inc. (NYSE: ENR) (“Energizer”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ENR as the Company’s latest news hit the wire. On June 26, 2018, the Company, which is one of the world’s largest manufacturers of primary batteries and portable lighting products, declared that it has entered into an agreement with Reed-Union Corp. to acquire its automotive appearance business, including the Nu Finish Car Polish and Nu Finish Scratch Doctor brands. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Reed-Union’s Strong Hold in Domestic and International Markets

Reed-Union was founded in 1929 as a specialty chemical coatings manufacturer in Chicago, Illinois, US. The Company emphasizes on the goal to produce high quality products, and has been a consumer products pioneer and innovator. At present, the Company is in its fourth generation of leadership. Reed-Union’s auto appearance business has a wide distribution across auto retail channels in the US and it also has a good hold on its international markets in Canada and Australia. Nu Finish and Scratch Doctor have emerged as leading products in their categories, led by the combination of product innovation and effective marketing campaigns.

Acquisition In-Line with Energizer’s Growth Strategy

Alan Hoskins, Chief Executive Officer (CEO) at Energizer, expressed his excitement about the combination of its auto appearance business with Reed-Union’s industry leading appearance brands. The addition of Reed-Union’s Nu Finish and Scratch Doctor brands will enhance Energizer’s existing auto appearance portfolio. The strength of these brands will complement Energizer’s Lexol and Eagle One products. This acquisition is consistent with the Company’s strategy of building its auto care business, both organically and through acquisitions.

Reed-Union Looks for Wider Growth Opportunities

Peter Goldman, President of Reed-Union, believes that combining top-selling Nu Finish brand with Energizer’s portfolio of automotive appearance products and global resources will significantly enhance Reed-Union’s ability to grow its well-established brands. The Company looks forward to increasing its market penetration for serving and supporting the next generation of consumers.

Transaction Financing

For the financing of this transaction, Energizer intends to use a combination of existing cash and committed debt facilities.

Financial Advisors

For the purpose of this transaction, the leading consumer investment banking firm, Sawaya Partners, LLC, served as the exclusive financial advisor to Energizer.

Energizer Declares Pricing of $500 Million of Senior Notes and €650 Million of Senior Notes

On June 21, 2018, Energizer announced the pricing of the offerings of $500 million of 6.375% senior notes, due 2026, by its wholly-owned subsidiary, Energizer Gamma Acquisition Inc.; and €650 million of 4.625% senior notes, due 2026, by its indirect wholly-owned subsidiary, Energizer Gamma Acquisition B.V. Both notes are priced at 100% of the principal amount thereof.

Energizer plans to utilize the proceeds from these offerings, along with its borrowings under new credit facilities, to fund the previously-announced acquisition of the global battery and portable lighting business of Spectrum Brands Holding, and to repay the debt outstanding under its existing credit agreement.

Stock Performance Snapshot

June 27, 2018 – At Wednesday’s closing bell, Energizer’s stock declined 1.02%, ending the trading session at $62.11.

Volume traded for the day: 342.72 thousand shares.

Stock performance in the last month – up 2.00%; previous three-month period – up 17.12%; past twelve-month period – up 26.34%; and year-to-date – up 29.45%

After yesterday’s close, Energizer’s market cap was at $3.68 billion.

Price to Earnings (P/E) ratio was at 29.96.

The stock has a dividend yield of 1.87%.

The stock is part of the Consumer Goods sector, categorized under the Personal Products industry.

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