Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household Products and Personal Care divisions into two independent, publicly traded companies.
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
The separation is planned as a tax-free spin-off to the Company's shareholders and is expected to be completed in the second half of the 2015 fiscal year. The separation is expected to create two strong independent public companies with distinct brands, categories and corporate strategies:
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
Household Products, with batteries and portable lighting products, is expected to generate strong margins and significant cash flows, and will be anchored by the universally recognized Energizer and Eveready brands. The Household Products division reported annual revenue of approximately $1.9 billion in the trailing twelve month period ended March 31, 2014.
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
Personal Care is expected to be a leading pure-play consumer products company with an attractive stable of well-established brand names, including Schickand Wilkinson Swordin Wet Shave; Edgeand Skintimatein shave preparation; Playtex, Stayfree, Carefreeand o.b.in Feminine Care; and Banana Boatand Hawaiian Tropicin Sun Care. The Personal Care division had annual revenue of approximately $2.6 billion in the trailing twelve month period ended March 31, 2014, adjusted on a pro-forma basis for the feminine care acquisition.
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
"Over the last three years, we have taken a number of important steps to enhance shareholder value, including executing a multi-year cost reduction plan, improving working capital, and initiating a dividend," said Ward M. Klein, Chief Executive Officer.
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
"The Energizer Board of Directors and management team have continually explored opportunities to improve performance and increase long-term shareholder value and believe that separating the Household Products and Personal Care divisions is the next logical step to unlock even greater value for Energizer shareholders. Importantly, as we move through the separation process, the Company's working capital and cost reduction efforts will continue without interruption, and we expect to achieve the full savings projected."
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
"Since becoming an independent company in 2000, Energizer has built two successful divisions and each is now well-suited to realize its full potential on a standalone basis," Mr. Klein said. "We expect that Household Products will be well-positioned to leverage its leading brands and product portfolio to generate significant cash flows and the Personal Care business has achieved scale to be able to enhance its focus on continuing innovation and to drive top-line and market share growth."
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
Energizer believes that creating two public companies offers a number of benefits to the standalone businesses.
Energizer Holdings, Inc. announced that its Board of Directors has authorized management to pursue a plan to separate the Company's Household #
Energizer
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