Spectrum Brands (SPB) Acquires Majority Interest in Shaser Bioscience for $50M

Article Related Press Releases (1) Stock Quotes (1) Comments (0)

Spectrum Brands Holdings Inc. New (NYSE: SPB) announced that it has acquired a 56 percent interest in Shaser Bioscience, Inc., a privately held global technological leader in developing energy-based, aesthetic dermatological technology for home use devices, for $50 million in cash. The transaction provides Spectrum Brands with exclusive rights to Shaser Bioscience’s entire range of technology platforms and establishes Spectrum Brands’ Remington® personal care division as a leader in large and rapidly growing segments of the worldwide beauty and skin care retail device market.

Spectrum expects that the acquisition will add substantial incremental revenue to Remington’s consumables business, approximately doubling consumables business revenues in fiscal 2013 and continuing rapid top-line growth in fiscal 2014.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Bausch & Lomb near deal to sell to Valeant Pharmaceuticals (VRX) - WSJ
• UPDATE: Hulu Bidding War Heats Up as Yahoo (YHOO) & Others Join Party
• NASDAQ OMX (NDAQ), Thomson Reuters (TRI) Enter Asset Purchase Agreement

Create E-mail Alert Related Categories

Mergers and Acquisitions

Related Entities

Remington

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?