Spectrum Brands' HHI Group Signs Definitive Deal To Acquire Tell Manufacturing

(RTTNews) - Consumer Products Firm Spectrum Brands Holdings, Inc. (SPB) announced its Hardware and Home Improvement Group or HHI has signed a definitive agreement to acquire privately owned Tell Manufacturing, Inc. Financial terms of the accretive, all-cash transaction were not disclosed.

Commenting on the agreement, the company said Tell will provide HHI with an established commercial security sales position through a high-quality and well recognized brand and a platform to expand HHI's unique and patented SmartKey and Kevo residential lock technologies into growing commercial channels.

Tell also will add doors and hollow metal door manufacturing capabilities to HHI, a strategically important adjacent category, Spectrum noted.

The acquisition is expected to close by the end of October 2014 and is subject to the completion of customary closing conditions.