Announced
Completed
Financials
Tags
Germany
Majority
Miscellaneous Consumer Staple Goods
Private
batteries
Acquisition
Single Bidder
Friendly
Completed
Synopsis
VARTA, a battery manufacturer, completed the acquisition of Europe-based VARTA Consumer Batteries unit from Energizer, manufacturers of batteries, for $401m. “With this transaction, we are seizing the unique opportunity to bring together what belongs together. The acquisition allows us to make extensive use of our premium brand name again, which also stands for technology and innovation leadership. In addition, VARTA Consumer’s attractive cash flow profile will make a significant contribution to the further expansion of our fast-growing, highly profitable lithium-ion production. Our growth strategy thus remains uncompromised; the pace of expansion for our lithium-ion production remains unchanged," Herbert Schein, VARTA CEO.
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