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Spectrum Brands Agrees to Acquire Armored AutoGroup for $1.4 Billion
- Client News
- April 28, 2015
Paul, Weiss client Spectrum Brands Holdings, Inc. entered into a definitive agreement for the purchase of Armored AutoGroup Parent, Inc. from Avista Capital Partners for $1.4 billion in cash and assumed debt. The transaction, subject to receipt of applicable regulatory approvals and customary closing conditions, is expected to close before June 30. Armored AutoGroup is a consumer products company consisting primarily of the well-known and widely-trusted Armor All and STP brands, as well as several other lines of products in the automotive care and accessories business. Spectrum is a global and diversified consumer products company with market-leading brands in a number of spaces, including Remington, Black & Decker, George Foreman, Rayovac, Kwik-Set and Stanley.
The Paul, Weiss team advising Spectrum included, among others, corporate partners Eric Goodison, Raphael Russo and Steven Williams and counsel Richard Elliott, Marta Kelly, Didier Malaquin, Claudine Meredith-Goujon and Pearl Yuan-Garg; employee benefits partner Lawrence Witdorchic and counsel Reuven Falik; tax partner Richard Bronstein; environmental counsel William O'Brien; real estate partner Salvatore Gogliormella; and litigation partner Joseph Simons.