Spectrum Puts Up $1.4B For Stanley Black & Decker Unit

Law360, New York (October 9, 2012, 5:57 PM EDT) -- Private equity-backed consumer products company Spectrum Brands Holdings Inc. agreed to pay $1.4 billion for Stanley Black & Decker Inc.’s door-lock and faucet fixture unit, the pair said Tuesday, answering rumors of a potential sale.

The cash deal will bring Stanley’s Kwikset and Pfister brands to Spectrum, which makes Rayovac batteries and Remington shavers and sells small home appliances with the Black & Decker brand. Spectrum will fund its purchase using new debt, committed by Deutsche Bank AG and Barclays PLC, it said.

Spectrum said it...
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