Rayovac to Acquire Remington Products
From Bloomberg News
Rayovac Corp. agreed to buy closely held Remington Products Co. for about $165 million in cash to enter the more profitable razor business.
The purchase, which totals $322 million after the assumption of debt, will add to profit next year, Madison, Wis.-based Rayovac said.
Rayovac is cutting reliance on batteries amid slowing sales and competition from Gillette Co. and Energizer Holdings Inc.
Rayovac shares rose 65 cents to $14.25 on the NYSE.
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