Spectrum Brands looks to sell batteries and appliances units
MIDDLETON, Wis. (AP) — Spectrum Brands is looking for a buyer for its batteries and appliances businesses.
The consumer products company, which makes Rayovac and Kwikset, wants to concentrate on its four remaining businesses, which are hardware and home improvement, global auto care, global pet supplies and home and garden.
Executive Chairman David Maura said in a prepared statement Wednesday that selling the businesses will allow Spectrum Brands Holdings Inc., based in Middleton, Wisconsin, to lower debt, buy back shares and make some acquisitions. Maura says the company is in active talks with several potential buyers.