Energizer, one of the world's largest manufacturers of primary batteries and portable lighting products, acquired Spectrum Batteries from Spectrum Brands, a global consumer products company offering a broad portfolio of leading brands, for $2bn in cash. The combination will expand Energizer's presence in a number of international markets, broaden Energizer's product portfolio and manufacturing capabilities, and increase capacity for research and development. This will enable consumers to benefit from accelerated innovation and a wider range of products, and provide the opportunity to drive cost efficiencies to enhance the Company's ability to compete in the category.