Spectrum Brands has acquired Armitage Pet Care, a portfolio company of Rutland Partners
Having introduced the opportunity, Lincoln acted as exclusive buy-side advisor to Spectrum Brands, working closely with the team throughout bilateral negotiations with Armitage to successfully complete the transaction within a highly accelerated time frame.
Headquartered in Wisconsin, United States, Spectrum Brands (NYSE: SPB) is a global diversified consumer products and home essentials company focused on driving innovation and providing exceptional customer service. Armitage Pet Care is the United Kingdom’s fastest growing pet treats and products business with last twelve months (LTM) sales in excess of $80 million and is being acquired at a purchase price of approximately $180 million, subject to certain adjustments.
The acquisition of Armitage will allow Spectrum Brands to significantly further its ambition of expanding its global pet care division in Europe, the Middle East and Africa (EMEA) across chosen key categories.
Alex Masters, Managing Director at Lincoln International, commented, “It has been a pleasure to work with Spectrum Brands throughout all stages of this process, helping them to secure this transaction. As a result of our strategic advice, sector knowledge and introduction to Armitage, we were able to help Spectrum Brands secure a superbly positioned pets treats and products business which significantly progresses their international and category ambitions in pet.”
We are delighted that Lincoln identified, introduced and helped execute an excellent opportunity for us and we are thrilled to welcome Armitage and its brands into the group, as we continue to embark on growing our international presence.
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