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Spectrum Brands Holdings’ Home and Garden Division Acquires The Liquid Fence Company, U.S. Market Leader in Consumer Animal



  Spectrum Brands Holdings’ Home and Garden Division Acquires The Liquid Fence
  Company, U.S. Market Leader in Consumer Animal Repellents Category

 Immediately Accretive Purchase to Enhance Company’s Highest-Margin Business

Business Wire

MIDDLETON, Wis. & ST. LOUIS, Mo. -- January 7, 2014

Spectrum Brands Holdings, Inc. (NYSE:SPB), a global and diversified consumer
products company with market-leading brands, announced today its United
Industries Home and Garden division located in St. Louis has acquired The
Liquid Fence Company, Inc., the U.S. leader in the fast-growing consumer
animal repellents market. Financial terms of the accretive, all-cash
transaction were not disclosed.

With a broad and expanding product line, proprietary formulations and solid
retailer relationships, the Liquid Fence brand has generated market leading
performance in the U.S. consumer animal repellents market estimated to be
growing at more than double the rate of the overall lawn and garden category.
Liquid Fence’s flagship product, Liquid Fence Deer & Rabbit Repellent, is the
number-one product of its kind in the U.S.

“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 Chief Executive Officer 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.

“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,” Mr. Lumley said. “The
transaction is immediately accretive, and the synergies we expect quickly will
result in an even more attractive multiple paid for the business.”

Genesis Capital, LLC acted as financial advisor to Spectrum Brands Holdings,
Inc., while Barnes & Thornburg LLP provided legal counsel.

About United Industries

United Industries Corporation, based in St. Louis, Missouri and with fiscal
2013 net sales of $390 million, is the leading manufacturer of value-brand
consumer products for the home, lawn and garden insect and weed control
markets in the United States. The company offers innovative products of
outstanding quality, so consumers benefit from easier insect and weed control
solutions. The brands – Spectracide®, Garden Safe®, Hot Shot®, Cutter®, Repel®
and Black Flag® – are well recognized by consumers for delivering exceptional
value and trusted results. For more information, visit
www.UnitedIndustriesCorporation.com.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and
diversified consumer products company and a leading supplier of consumer
batteries, residential locksets, residential builders’ hardware, faucets,
shaving and grooming products, personal care products, small household
appliances, specialty pet supplies, lawn and garden and home pest control
products, and personal insect repellents. Helping to meet the needs of
consumers worldwide, our Company offers a broad portfolio of market-leading,
well-known and widely trusted brands including Rayovac®, Kwikset®, Weiser®,
Baldwin®, National Hardware®, Pfister™, Remington®, VARTA®, George Foreman®,
Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s
Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®,
Repel®, Hot Shot® and Black Flag®. Spectrum Brands' products are sold by the
world's top 25 retailers and are available in more than one million stores in
approximately 140 countries. Based in Middleton, Wisconsin, Spectrum Brands
Holdings generated net sales of approximately $4.1 billion in fiscal 2013. For
more information, visit www.spectrumbrands.com.

Forward-Looking Statements

Certain matters discussed in this news release and other oral and written
statements by representatives of the Company regarding matters such as
expected sales, adjusted EBITDA, debt reduction and leverage, and other
measures of financial performance, may be forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. We have
tried, whenever possible, to identify these statements by using words like
“future,” “anticipate”, “intend,” “plan,” “estimate,” “believe,” “expect,”
“project,” “forecast,” “could,” “would,” “should,” “will,” “may,” and similar
expressions of future intent or the negative of such terms. These statements
are subject to a number of risks and uncertainties that could cause results to
differ materially from those anticipated as of the date of this release.
Actual results may differ materially as a result of (1) Spectrum Brands
Holdings’ ability to manage and otherwise comply with its covenants with
respect to its significant outstanding indebtedness, (2) our ability to
integrate, and to realize synergies from, the combined businesses of Spectrum
Brands and the Hardware & Home Improvement Group of Stanley Black & Decker,
and from our purchase of 56 percent of the equity of Shaser, Inc., and from
other bolt-on acquisitions, (3) risks related to changes and developments in
external competitive market factors, such as introduction of new product
features or technological developments, development of new competitors or
competitive brands or competitive promotional activity or spending, (4)
changes in consumer demand for the various types of products Spectrum Brands
Holdings offers, (5) unfavorable developments in the global credit markets,
(6) the impact of overall economic conditions on consumer spending, (7)
fluctuations in commodities prices, the costs or availability of raw materials
or terms and conditions available from suppliers, (8) changes in the general
economic conditions in countries and regions where Spectrum Brands Holdings
does business, such as stock market prices, interest rates, currency exchange
rates, inflation and consumer spending, (9) Spectrum Brands Holdings’ ability
to successfully implement manufacturing, distribution and other cost
efficiencies and to continue to benefit from its cost-cutting initiatives,
(10) Spectrum Brands Holdings’ ability to identify, develop and retain key
employees, (11) unfavorable weather conditions and various other risks and
uncertainties, including those discussed herein and those set forth in the
securities filings of each of Spectrum Brands Holdings, Inc. and Spectrum
Brands, Inc., including each of their most recently filed Annual Reports on
Form 10-K or Quarterly Reports on Form 10-Q.

Spectrum Brands Holdings also cautions the reader that its estimates of
trends, market share, retail consumption of its products and reasons for
changes in such consumption are based solely on limited data available to
Spectrum Brands Holdings and management’s reasonable assumptions about market
conditions, and consequently may be inaccurate, or may not reflect significant
segments of the retail market. Spectrum Brands Holdings also cautions the
reader that undue reliance should not be placed on any forward-looking
statements, which speak only as of the date of this release. Spectrum Brands
Holdings undertakes no duty or responsibility to update any of these
forward-looking statements to reflect events or circumstances after the date
of this report or to reflect actual outcomes.

Contact:

Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard, 608-278-6141
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