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Spectrum Brands Announces Definitive Agreement to Sell Canadian Home & Garden Division.

Publication: Business Wire
Publication Date: 28-SEP-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
ATLANTA -- Spectrum Brands, Inc. (NYSE: SPC) announced today that it has signed a definitive agreement to sell the Canadian division of its Home & Garden business segment, which operates under the name Nu-Gro, to a new company formed by RoyCap Merchant Banking Group and Clarke Inc. (TSX:CKI). This division is a leading supplier in the Canadian Home & Garden industry, with FY 2006 sales of approximately $100 million across a broad range of product categories, including fertilizer, grass seed, controls and ice melt, under brand names such as CIL, Wilson, and Alaskan Ice Melter. The transaction is anticipated to close by October 31, 2007, subject to certain regulatory approvals. Financial terms were not disclosed.

Kent Hussey, Spectrum Brands' Chief Executive Officer, commented, "The Canadian division of our Home & Garden business...

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