Rayovac Corp. and personal care appliance maker Remington Products Company, LLC (Bridgeport, CT, U.S.) announced that Rayovac Corp. has entered into an agreement to purchase Remington Products Company for approximately U.S. $322 million, including the assumption of debt.
Remington, owned by the Kiam family and Vestar Capital Partners since 1996, designs and distributes battery-powered electric shavers and accessories, grooming products, hair care appliances, and other small electrical consumer appliances. For the last 12 months ending June 30, 2003, the company reported sales of $360.3 million, net income of $20.2 million, and earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $47.0 million.
Headquartered in Madison, WI, U.S., Rayovac has plants all over the world, including Fennimore, WI and Portage, WI in the U.S.; Breitenbach, France; Dischingen, Germany; and Washington, United Kingdom in Europe; and Guatemala City, Guatemala and Manizales, Colombia in Latin America.
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