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SPECTRUM BRANDS HOLDINGS, INC.

(SPB)
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Spectrum Brands to Sell Hardware and Home Improvement Segment for $4.3 Billion

09/08/2021 | 12:34pm EDT

By Dave Sebastian

Spectrum Brands Holdings Inc. said it has agreed to sell its hardware and home improvement segment for $4.3 billion in cash to door-security company Assa Abloy AB.

With the sale, Spectrum Brands said it is moving to become more focused on consumer staples. The company on Wednesday said proceeds from the sale will help it repay debt and cut its gross leverage ratio to about 2.5 times in the near term.

Spectrum Brands said it expects to spend excess proceeds on investing for growth, funding acquisitions and returning capital to shareholders.

The results of the segment to be sold will be reported as discontinued operations starting the fourth quarter, the company said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

09-08-21 1233ET

Stocks mentioned in the article
ChangeLast1st jan.
ASSA ABLOY AB 0.99% 255.1 Delayed Quote.25.98%
SPECTRUM BRANDS HOLDINGS, INC. -0.92% 96.6 Delayed Quote.22.31%
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09/09SPECTRUM BRANDS : Assa Abloy acquires the HHI division of Spectrum Brands for MUSD 4,300
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09/09ASSA ABLOY : buys Spectrum home improvement business for $4.3 billion
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09/08SPECTRUM BRANDS : Assa Abloy to Buy Spectrum Brands' Home Improvement Unit for $4.3 Billio..
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More news
Analyst Recommendations on SPECTRUM BRANDS HOLDINGS, INC.
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Financials (USD)
Sales 2021 4 573 M - -
Net income 2021 166 M - -
Net Debt 2021 2 369 M - -
P/E ratio 2021 24,9x
Yield 2021 1,63%
Capitalization 4 108 M 4 108 M -
EV / Sales 2021 1,42x
EV / Sales 2022 1,37x
Nbr of Employees 12 100
Free-Float 78,7%
Chart SPECTRUM BRANDS HOLDINGS, INC.
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Spectrum Brands Holdings, Inc. Technical Analysis Chart | SPB | US84790A1051 | MarketScreener
Technical analysis trends SPECTRUM BRANDS HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 96,60 $
Average target price 111,14 $
Spread / Average Target 15,1%
EPS Revisions
Managers and Directors
David M. Maura Executive Chairman & Chief Executive Officer
Jeremy Wade Smeltser Chief Financial Officer & Executive Vice President
Randal D. Lewis Chief Operating Officer & Executive Vice President
Terry Lee Polistina Lead Independent Director
Hugh R. Rovit Independent Director
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