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"Varta's consumer battery brands are highly regarded in Europe and Latin America. Spectrum has agreed to share in any decline in value on the sale of the Europe-based Varta business below the targeted sales price, up to a maximum of … Energizer’s purchase of Spectrum Brands’ global battery and portable lighting business, which includes Rayovac and the Europe-heavy Varta consumer battery … Rayovac (NYSE: ROV) of Madison, Wis., and Varta AG of Hannover, Germany, today announced that the companies have signed an agreement to combine Varta's global consumer battery business with Rayovac. Facts on Varta's Consumer Battery BusinessIn Europe, Varta consumer battery products are sold in more than 200,000 retail locations and in seven of the top 10 global retailers. After all, portable batteries are mainly produced in Asia and exported all over the world; there are no major differences in customers' requirements regardless of location; and many wholesale customers source globally.Energizer declined to comment on this question, but previously said in its 2017 annual report that such sales have an impact on the market in some parts of the world, “particularly in certain European markets such as Germany and Spain.”For hearing-aid batteries, they can argue Rayovac is the dominant supplier, accounting for around two-thirds of all such batteries sold to retailers in Europe, and that Energizer is one of its few significant competitors.American battery manufacturer Energizer’s $2 billion purchase of Spectrum Brands’ global battery and flashlights business might encounter more regulatory trouble in Europe than it did in the United States.Yet a factor that might mitigate in favor of the deal is the role of private-label — non-branded — sales by large retailers.Energizer declined to comment when asked whether this was the case, saying only that it is “having open and constructive discussions with [EU competition officials] and remains confident that the proposed merger will be approved.”Alkaline, lithium-coin and hearing-aid batteries are all classed as “portable” batteries, which means small enough to be hand-carried and used in small devices such as laptops, portable tools and toys. Varta Microbatterie will focus its energies on serving its global base of Original Equipment Manufacturers (OEM) and Original Equipment Suppliers (OES) and specialty customers and will continue to design and manufacture its extensive line of micro-battery products.Rayovac is one of the world's leading battery and lighting device companies. The parties, both of which are traded on the New York Stock Exchange, said in March 2018 that they expect the transaction to close in the second half of 2018.RELX Group and the RE symbol are trade marks of RELX Intellectual Properties SA, used under license.Take Germany as an example. Rayovac will also capitalize on Varta's European state-of-the-art manufacturing, packaging and distribution facilities to better serve the growing needs of global retail customers. Battery brands, Rayovac and Varta, sold to Energizer Details Published on 18 January 2018 Acquisition. We are excited to add Rayovac and VARTA to our growing portfolio of brands! In Mexico and Colombia, Varta products are sold in more than 100,000 stores. "Actual results may differ materially from these statements as a result of (1) changes in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (2) changes in consumer demand for the various types of consumer batteries, (3) changes in the general economic conditions where we do business, such as stock market prices, interest rates, currency exchange rates, inflation and raw material costs, and (4) various other factors, including those discussed herein and those set forth in the Company's most recent Form 10Q, Annual Report on Form 10-K and the prospectus supplement for the Company's most recent offering of its common stock.Salomon Smith Barney acted as lead advisor to the Company on this transaction and provided a fairness opinion to the Board of Directors. For alkaline and lithium-coin batteries, competitors can argue that Energizer has a third of the European market and that Varta would add roughly 10 percent.Middleton, Wisconsin-based Spectrum Brands’ Varta and Rayovac also make alkaline batteries, lithium coin and hearing aid batteries. It also makes lithium “coin” batteries, used in cameras and smoke detectors, and hearing-aid batteries, under its own name and the Eveready brand.But then at the beginning of June, they shifted gears, announcing that they would instead file for merger review with the European Commission (see here).
And they even had some preliminary meetings with national authorities, MLex understands.Nonetheless, a recent shift in their regulatory approach could be a sign that they have faced unexpected difficulties in Europe.The deal, announced in January, sailed through the US regulatory process. Varta's small consumer battery operation in the U.S. will be integrated into Rayovac North American operations. Varta's Latin American operations will be combined with Rayovac's existing Latin American business and led by Luis Cancio, executive vice president of Rayovac Latin America.