Rayovac Corporation, a maker of batteries and personal care appliances, announced the completion of its previously announced acquisition of Microlite S.A.
Microlite, a Brazilian battery manufacturer headquartered in Sao Paulo, owns the Rayovac brand name in Brazil. As a result of the transaction, Rayovac now has worldwide rights to that brand name.
Rayovac is said to be the market-leading battery brand in Brazil, with a 49 percent value share of the alkaline and zinc carbon market as measured by AC Nielsen Brazil.
"The acquisition of Microlite is a key strategic step for Rayovac," said David Jones, Rayovac chairman and CEO. "By combining Microlite's market leading position in Brazil with our own presence in the Latin America battery market, we have significantly strengthened Rayovac's position as the number one selling battery brand in that region."
Rayovac expects the Microlite acquisition to have minimal impact on earnings in fiscal year 2004. The company said more specific integration plans will be provided on Rayovac's quarterly earnings call, which is scheduled for July 22, 2004.
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