Spectrum Brands subsidiary completes acquisition

Madison-based Spectrum Brands Holdings Inc. announced its United Pet Group (UPG) subsidiary has completed the acquisition of FURminator, a leading worldwide provider of branded and patented deshedding products to the pet industry, from HKW Capital Partners III L.P. and the other shareholders.
"FURminator is an outstanding addition to UPG and its broad companion animal product portfolio, giving us the global leadership position in the large and growing $200 million dog and cat grooming category," said Dave Lumley, chief executive officer of Spectrum Brands Holdings. "This accretive acquisition, which will enhance our margins, offers major revenue growth opportunities as well as manufacturing, supply chain and distribution synergies which we expect to quickly realize over the next 12 to 18 months."
Founded in 2002 and with annual revenues of nearly $40 million, FURminator markets professional quality dog and cat products for the worldwide grooming tools and accessories category.
UPG, which is based in Cincinnati, Ohio, had fiscal 2011 net sales of $579 million.

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