Just 13 days after announcing that it was exploring a sale of its global batteries and appliances business, Spectrum Brands Holdings announced a deal was struck with Energizer Holdings Inc. to purchase the global battery and lighting business for $2 billion in cash.
Middleton-based Spectrum plans to use the net proceeds to reduce debt, reinvest in its core businesses, and repurchase shares, according to a release.
The deal will likely close by the end of 2018 and does not include Spectrum’s appliances business, which remains on the market.
