Spectrum Brands Mulls Sale Of Global Batteries & Appliances Units - Quick Facts

(RTTNews) - Spectrum Brands Holdings, Inc. (SPB), a consumer products company, announced Wednesday that it will explore strategic options for its Global Batteries & Appliances or GBA businesses with the intention to sell the units during 2018.

The strategic move is expected to maximize shareholder value by reallocating capital to faster-growing, higher-margin and more focused consumer brands businesses.

Effective with the Company's fiscal 2018 first quarter financial results ended December 31, 2017, the Global Batteries & Appliances segment will be reclassified as held for sale and reported as discontinued operations.

For the fiscal year ended September 30, 2017, the Global Batteries & Appliances segment generated net sales of $2 billion, operating income of $231 million and adjusted EBITDA of $317 million.

David Maura, Executive Chairman of Spectrum Brands, said, "This action to redeploy capital invested from our GBA assets repositions our Company into a faster-growing and higher-margin Spectrum Brands with an increased focus on our four remaining businesses of Hardware & Home Improvement, Global Auto Care, Global Pet Supplies and Home & Garden."