United Pet Group Is Sold—Again
Salton Inc. (Miramar, Fla.), a marketer of small home appliances, pet, pest and personal care products, in May agreed to buy United Pet Group (Cincinnati) from Spectrum Brands Inc. (Atlanta) for approximately $692.5 million.
UPG, a global marketer of branded supplies for fish, dogs, cats, birds and small animals, posted revenues of $563 million for the 2007 fiscal year. Salton expects to integrate its LitterMaid self-cleaning cat litter box business into UPG, a move that will strengthen its position as one of the largest U.S. suppliers of specialty pet products and provide it with a strong growth platform in that market.
John A Heil, co-chief operating officer and president of Global Pet Supplies for Spectrum Brands, will continue to lead UPG under Salton’s ownership. UPG will operate as a standalone business with dedicated sales and marketing, and research and development.
“Over the past five months, we have successfully integrated the Salton and Applica businesses, and we are now ready to take the next step in enhancing our range of product offerings and market reach,” said Terry L. Polistina, president and chief executive officer of Salton. “The addition of the United Pet Group establishes Salton as one of the leading providers of specialty pet supplies.”
“Salton is now ready to take the next step forward, and United Pet Group will strengthen the company, given its leading position in the high-margin pet supply sector,” said David M. Maura, chairman of Salton. “I am confident that Salton will realize revenue synergies, while also maintaining UPG’s distinct competitive strengths in customer relationships and distribution, among other areas.”
The sale is expected to close this summer. [July 2008 PET AGE]
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