Spectrum Brands Holdings’ home and garden division, located in St. Louis, acquired The Liquid Fence Co., which is based out of Blakeslee, Pa. Terms were not disclosed.
“Liquid Fence gives us a new, complementary and leadership position in a rapidly expanding segment of the $1.5 billion U.S. retail lawn and garden controls market,” said Dave Lumley, president and CEO of Spectrum Brands. “We see excellent revenue growth potential, given our home and garden division’s strength in the lawn and garden category and the impressive growth rate of the animal repellents category. Liquid Fence fits well within home and garden’s many core strengths, including liquid production, regulated products and distribution overlap.
“This textbook, tuck-in acquisition fits perfectly with our stated strategy to seek synergistic, bolt-on acquisitions that expand our product line with strong, complementary brands and categories, increase and extend our market penetration leveraging the Spectrum Value Model, and provide for quick and major manufacturing, distribution and SG&A synergies. The transaction is immediately accretive, and the synergies we expect quickly will result in an even more attractive multiple paid for the business.”
