Spectrum Brands (SPB) Misses Q1 EPS by 31c
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Spectrum Brands (SPB) to Acquire Tristar Products’ Appliance and Cookware Business for $325M Cash with $100M in Milestone Payments
February 4, 2022 6:30 AM ESTSpectrum Brands Holdings, Inc. (NYSE: SPB) announced today it has signed a definitive agreement to acquire the home appliances and cookware categories of Tristar Products, Inc. (the Tristar Business) for $325 million, in cash, at closing, up to $100 million, in cash, if certain gross profit targets are achieved in calendar year 2022 and another $25 million, in cash or equity of the combined business, if certain other gross profit targets are achieved in calendar year 2023. The transaction is expected to close within the next 90 days. The acquisition of the Tristar Business will be funded by a... More
