The deal is expected to close by the end of June.

Headquartered in Melle, Germany, Tetra manufactures, markets and distributes a comprehensive line of foods, equipment and care products for fish and reptiles, as well as accessories for home aquariums and ponds. Holding leading market positions in Germany, Japan, the United States and the United Kingdom, Tetra operates in about 90 countries, employs 700 people and has annual sales of approximately $266 million.

“The acquisition of Tetra is a significant step forward in our strategy of becoming a more significant global player in the pet supplies industry,” said David A. Jones, Rayovac’s chairman and chief executive officer. “Tetra’s superior brand equity and demonstrated record of product innovation make it a premier property in this industry. The combination of Tetra with our United Pet Group business means Rayovac becomes the world’s largest manufacturer of pet supplies, a position with which we can leverage our company’s worldwide operations, supply chain and information systems infrastructure to better meet the needs of our global retailer customers.”

“The Tetra brand is arguably the most recognized global brand name in the pet supplies industry,” said John Heil, president of United Pet Group. “The acquisition of Tetra is a linchpin to our goal of becoming the most important pet supplies provider in the world.”

“We are delighted to become part of the Rayovac team,” said Dr. Hartmut Kiock, chairman and chief executive officer of Tetra Holding GmbH. “The acquisition by Rayovac strengthens Tetra’s ability to participate in the continued growth of the water life industry by virtue of Rayovac’s position as a significant global diversified consumer products company.”

Rayovac, a global consumer products company with a diverse portfolio, entered the pet industry in January when it bought United Industries Corp. (St. Louis), the parent company of United Pet Group, for a total value of approximately $1.2 billion including the assumption of approximately $880 million of United Industries debt and a cash tax benefit of $140 million.

Rayovac recently announced its intention to change its corporate name to Spectrum Brands Inc. to better reflect its expanding portfolio of consumer product brands. Once shareholders approve the name change, which was expected to happen in April, the company’s stock will trade on the New York Stock Exchange under the symbol SPC. [May 2005 PET AGE]