News Release
J.H. Chapman Group Advises United Pet Group on the Purchase of FURminator®
Chicago, IL (December 22, 2011) - The J.H. Chapman Group, L.L.C. is pleased to announce that its client, United Pet Group, Inc., a division of Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company with market-leading brands, has completed the acquisition of FURminator®, Inc., the leading worldwide provider of branded and patented deshedding products to the pet industry, from HKW Capital Partners III, L.P. and the other shareholders for $140 million cash.
Founded in 2002 and with annual revenues of nearly $40 million, FURminator® markets professional quality dog and cat products for the worldwide grooming tools and accessories category using two brands: FURminator® in the North American pet channel and internationally and FurGOpet® in the North American mass merchandise channel.
"FURminator® is an outstanding addition to UPG and its broad companion animal product portfolio, giving us the global leadership position in the large and growing $200 million dog and cat grooming category," said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. "This accretive acquisition, which will enhance our margins, offers major revenue growth opportunities as well as manufacturing, supply chain and distribution synergies which we expect to quickly realize over the next 12 to 18 months."
About United Pet Group
Based in Cincinnati, Ohio and with fiscal 2011 net sales of $579 million, United Pet Group, Inc. is a subsidiary of Spectrum Brands Holdings, Inc., and is the leading manufacturer of consumer products for the pet supply markets globally. United Pet Group provides its customers with innovative products of outstanding quality for pet owners, including dogs, cats, birds, small animals, fish and reptiles. Its brands - Tetra®, Marineland®, Nature's Miracle®, Dingo® - are well recognized by consumers for delivering exceptional value and trusted results. United Pet Group's passion and longstanding commitment to quality and value has earned the confidence of its global retail partners, who count on United Pet Group to deliver innovative and highly profitable products, customized solutions and merchandising excellence. For more information, visit www.unitedpetgroup.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®, Varta®, Remington®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature's Miracle®, Dingo®, 8-in-1®, Littermaid®, Spectracide®, Cutter®, Repel®, and Hot Shot®. Spectrum Brands Holdings' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 130 countries. Headquartered in Madison, Wisconsin, Spectrum Brands Holdings generated net sales of approximately $3.2 billion in fiscal 2011. For more information, visit www.spectrumbrands.com.
About Hammond Kennedy Whitney
HKW is a private equity firm founded in 1903 and headquartered in Indianapolis, Indiana with an office in New York. Over the past 29 years, HKW has sponsored 40 platform management buyouts of small middle-market companies throughout North America as well as 38 add-on acquisitions. For further information about HKW and its portfolio companies, investment strategy, and team, visit www.hkwinc.com.
J.H. Chapman Group, L.L.C.
The J.H. Chapman Group, with offices in Chicago and Paris, is a leading investment banking firm providing advisory services for M&A transactions, corporate finance, divestitures, targeted search services, joint ventures and licensing in the food and non-food consumer product industries. For more information, visit www.jhchapman.com.
