Energizer takes over Varta batteries
With a $866 million turnover, the battery and torch segment currently makes up a sixth of Spectrum Brand’s business. The corporation also owns Remington shavers, George Foreman BBQs, Black & Decker tools, as well as garden fertilizers and pet supplies.
Energizer shares rose in New York by 14%, while Spectrum Brands saw increases of 2%.
Varta is a German battery manufacturer with a strong heritage, although fragmented over the years. Today, domestic batteries, button cells – e.g. for hearing aids as well as car batteries – are sold by separate firms. Varta AG – makers of the famous button cells – only went public as recently as in autumn 2017.
Sorce: manager Magazin Online / Handelsblatt Online, 17.01.2018 / 16.01.2018