Spectrum Brands acquires The Liquid Fence Company
The Home and Garden division of Spectrum Brands Holdings has announced its acquisition of The Liquid Fence Company, a producer of consumer animal repellents.
“Liquid Fence gives us a new, complementary and leadership position in a rapidly expanding segment of the $1.5 billion U.S. retail lawn and garden controls market,” said Dave Lumley, president and CEO of Spectrum Brands Holdings. “We see excellent revenue growth potential, given our Home and Garden division’s strength in the lawn and garden category and the impressive growth rate of the animal repellents category. Liquid Fence fits well within Home and Garden’s many core strengths, including liquid production, regulated products and distribution overlap."
According to a Spectrum Brands release, the Liquid Fence brand is positioned at the forefront of the U.S. consumer animal repellents market, which is estimated to be growing at more than double the rate of the overall lawn and garden category. Its flagship product, Liquid Fence Deer & Rabbit Repellent, is number one of its kind.
"This textbook, tuck-in acquisition fits perfectly with our stated strategy to seek synergistic, bolt-on acquisitions that expand our product line with strong, complementary brands and categories, increase and extend our market penetration leveraging the Spectrum Value Model, and provide for quick and major manufacturing, distribution and SG&A synergies,” Lumley added. “The transaction is immediately accretive, and the synergies we expect quickly will result in an even more attractive multiple paid for the business.”
Specific financial terms of the all-cash transaction were not disclosed.
Walmart recognizes Briggs & Stratton for emission reduction
Walmart recently recognized Briggs & Stratton Corporation for its leading contributions to its greenhouse gas emissions reduction goal, namely that of its work on the E Series engine.
"We are incredibly proud to be recognized by one of the largest retailers in the world," said Joe Wright, SVP and president, Engines Group, Briggs & Stratton. "Our E Series engines meet EPA emissions standards, which are 35% stricter than previous standards. They also use less material than previous models, thereby reducing the carbon footprint needed to build these engines in our Murray, Kentucky plant."
The E Series was designed specifically to reduce Briggs & Stratton’s carbon footprint, replacing the 450/500/550 Series as the company’s premier engine.
Walmart is aiming to eliminate 20 million metric tons of greenhouse gas from its global supply chain by the end of 2015, an effort that it began in 2010.
Famed designer Nate Berkus teams up with LG
LG Studio, the kitchen appliance segment of LG Electronics, has teamed up with decorator and product designer Nate Berkus, who will serve as artistic adviser on the company’s premium products.
David VanderWaal, director of home appliance brand marketing, LG Electronics USA, added, "LG welcomes Nate Berkus to the LG Studio family to help advance our premium appliance design innovations," said David VanderWaal, director of home appliance brand marketing, at the 2014 Consumer Electronics Show LG press conference. "We’re confident that this venture will help position LG Studio both as a beautiful addition to any premium kitchen and as a ‘must-have’ for entertaining with style."
Berkus is a decorated interior designer, host of NBC’s "American Dream Builders," a New York Times best-sellig author and designer of a national line of home goods. He launched his own design firm at the age of 24 and made his first TV appearance on The Oprah Winfrey Show in 2002.
In this new exclusive alliance, Berkus will provide input on product design, as well as guidance aimed at keeping LG Studio appliances at the cutting edge of kitchen design trends.
"LG came to me because they share my deep commitment to living with what is well thought out and well designed, without sacrificing personality," said Berkus at the conference. "Together we want to introduce products that will anchor the heart of the home, which is always the kitchen, as well as enhance the ease and style of how people live there."