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Spectrum Brands Holdings to Acquire Armored AutoGroup for $1.4 Billion

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April 30, 2015—Spectrum Brands Holdings signed a definitive merger agreement to acquire Armored AutoGroup Parent Inc. (“Armored AutoGroup”) from Avista Capital Partners for $1.4 billion in cash and assumed debt.

Including synergies from its acquisition of the A/C PRO business from IDQ Acquisition Corp. in March 2014, other synergies and organic growth, Armored AutoGroup is expected to generate net sales of more than $440 million and adjusted EBITDA in excess of $140 million for the calendar year ending Dec. 31. Nearly 80 percent of Armored AutoGroup’s annual revenues are generated in the U.S., primarily through auto retailers, mass merchandisers, home improvement centers and dollar stores.

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