Spectrum Brands

File:Ray-O-Vac Ad 1949.jpg

In 1906, the French Battery Company was founded in Chicago by James Bowen Ramsay (1869–1952). Its first president was German-born chemist Alfred Landau, who had been making batteries in Europe. The Ramsay collective invested in Landau's functioning low-profile Columbia Dry Battery Company which had been halted by copyright issues regarding the adopted name "Columbia". The re-started and re-named assembly plant soon relocated to Wisconsin where Landau's efforts to advance the French company too quickly, combined with a bad run of batteries, led to virtual bankruptcy and he was sacked. He moved on to Toronto and set up a factory making X-Cell brand batteries for Canada.

Neither Ramsay nor the other shareholders knew how to make batteries, but Ramsay's leadership kept the enterprise alive, by having assembly line staff make the "Fleur de lis" branded batteries to a lower standard. Ramsay's fiery self-belief in the industry led him to contract a university chemist C. F. Burgess to concoct a battery to rival those made in America and Europe. Burgess actually succeeded, to his own financial cost, and the company survived, with him becoming a shareholder; but after a fire destroyed the plant in 1915, he left to found his own successful battery company. French battery production accelerated through World War I, and by 1920, the French Battery Company had US$2.74 million in sales and 600 employees, and 1,000 employees in 1931.{{cite book |first=Stuart D. |last=Levitan |title=Madison: 1856–1931 |publisher=University of Wisconsin Press |date=2006 |isbn=0-299-21674-8 |page=201 }}

In 1930, the company name was changed to Ray-O-Vac, an allusion to the then-new technology of vacuum tubes and electron rays. In 1933, the company patented the first wearable vacuum tube hearing aid.[http://www.rayovac.com/Consumer-Services/History.aspx Rayovac company history timeline] ({{webarchive |url=https://web.archive.org/web/20130603064340/http://www.rayovac.com/Consumer-Services/History.aspx |date=June 3, 2013 }}) During World War II, Rayovac supplied the United States military with nearly 500 million batteries. As a result of this, they were awarded eight Army-Navy "E" awards for major contributions to victory.{{Citation needed|date=May 2021}}

In 2003, Rayovac decided to diversify, and acquired non-battery related businesses including Remington Products and United Pet Group. In 2004, Rayovac successfully underbid Energizer (Eveready) as RadioShack's battery supplier and produced the "Enercell" brand of battery sold exclusively at RadioShack. In January 2005, Rayovac purchased United Industries Corporation for about $476 million in cash and stock. Brands included in United Industries were Vigoro, Spectracide and Sta-Green lawn products, Cutter, Hot Shot and Repel insect control products, and pet supply products with the Marineland, Perfecto, and Eight in One brands.{{cite news |title=Rayovac Buys United Industries in $476M Deal |url=http://www.foxnews.com/story/0,2933,143276,00.html |agency=Associated Press | publisher=Fox News | date=January 4, 2005 | access-date=January 12, 2010 }}

In 2005, Tetra, a major provider of pet-fish products, was acquired. This diversification prompted the name change from Rayovac to Spectrum Brands. Rayovac also bought other battery companies including VARTA, Ningbo Baowang, and Microlite S.A. The Microlite acquisition included the rights to the Rayovac name in Brazil, giving the company worldwide rights to the Rayovac name.{{Cite press release| title=Rayovac to Acquire Microlite S.A.| publisher=Spectrum Brands| date=February 25, 2006| url = http://phx.corporate-ir.net/phoenix.zhtml?c=75225&p=irol-newsArticle_Print&ID=621490&highlight= | access-date=June 8, 2010}} With this acquisition, Rayovac consolidated its presence in the majority of countries in Latin America.

On February 3, 2009, Spectrum filed for Chapter 11 bankruptcy protection.{{cite news |title=Spectrum Brands files for bankruptcy |url=https://www.nbcnews.com/id/wbna29001985 |agency=Associated Press |publisher=NBC News |access-date=January 11, 2010 }} The company later emerged from bankruptcy on August 28, 2009.{{cite web |url=http://www.spectrumbrands.com/AboutUs/ |title=About Us |publisher=Spectrum Brands |access-date=April 28, 2014 }}{{cite web | url = https://www.reuters.com/article/spectrum-idUSN2838335920090828 | title = UPDATE 1-Spectrum Brands exits bankruptcy | access-date = January 12, 2014 | last1= Keating | first1= Gina |first2=Carol |last2=Bishopric | date = August 28, 2009 |publisher = Reuters}} Since emerging from Chapter 11, Spectrum has announced year-over-year increases in sales and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter of their fiscal 2010.

Rayovac, as a division of Spectrum Brands, remained headquartered in Madison, Wisconsin, along with Remington, while parent company Spectrum Brands was headquartered in Georgia. On April 15, 2010, Spectrum Brands announced that it would be moving its corporate headquarters back to Madison; Spectrum Brands moved its headquarters to the suburb of Middleton, Wisconsin, in October 2013.

Spectrum Brands finalized a merger with Russell Hobbs, Inc. on June 16, 2010, to form a new $3 billion consumer products company. Russell Hobbs' brands include George Foreman Grill, Toastmaster, Black & Decker Home appliances, and Russell Hobbs.{{cite web |url=https://captimes.com/business/spectrum-acquires-george-foreman-black-decker-brands/article_56aab60c-ee08-5a5c-a560-17980bb19f37.html | title=Spectrum acquires George Foreman, Black & Decker brands | date=February 9, 2010 }} In 2012, Spectrum also purchased many non-tool assets from Stanley Black & Decker, primarily hardware, plumbing, and locks. While the Russel Hobbs purchase brought Black & Decker licensing to Spectrum (for small appliances), the HHI purchase did not involve brands marketed under the Black & Decker name. In 2022, Spectrum began negotiations to sell the HHI division to Swedish lockmaker Assa Abloy.

On April 28, 2015, Spectrum Brands entered the automotive supply business by acquiring Armored Auto group.{{cite web|url=http://www.prnewswire.com/news-releases/hrg-group-inc-announces-armored-autogroup-acquisition-by-spectrum-brands-300073849.html |title=HRG Group, Inc. Announces Armored AutoGroup Acquisition by Spectrum Brands |publisher=Prnewswire |date=April 28, 2015 |access-date=April 4, 2016}}

On January 16, 2018, the Rayovac division was bought by Energizer for $2 billion.{{cite news |url=https://www.reuters.com/article/us-spectrum-m-a-energizer/energizer-adds-rayovac-batteries-to-lineup-with-2-billion-deal-idUSKBN1F517T |title=Energizer adds Rayovac batteries to lineup with $2 billion deal |date=January 16, 2018 |last=Shivdas |first=Sanjana |work=Reuters |access-date=February 28, 2018}} On February 26, 2018, Spectrum Brands announced it was merging with controlling shareholder HRG Group, Inc. The move would not affect the pending sale of its battery division to Energizer. Spectrum management was expected to run the merged entity.{{Cite news |url=https://www.reuters.com/article/us-spectrum-hlding-m-a-hrg-group/spectrum-brands-to-merge-with-top-shareholder-hrg-in-10-billion-deal-idUSKCN1GA1QD |title=Spectrum Brands to merge with top shareholder HRG in $10 billion deal |date=February 26, 2018 |work=Reuters |access-date=February 28, 2018 }} The combined company is to be named Spectrum Brands Holdings, Inc. and trade under the ticker symbol SPB. The company will remain in Middleton.{{cite journal |url=https://www.chaindrugreview.com/spectrum-brands-hrg-group-to-merge-in-10-billion-deal/ |title=Spectrum Brands, HRG Group to Merge in $10 Billion Deal |last=Redman |first=Russell |date=February 26, 2018 |access-date=February 28, 2018 |journal=Chain Drug Review}}

In September 2021, Spectrum sold its Hardware and Home Improvement ("HHI") division to Assa Abloy for $4.3 billion. HHI has a varied portfolio of products, including patented SmartKey technology and electronic, smart and biometric locks. Key brands include Kwikset, Baldwin, Weiser, Pfister and National Hardware. HHI is headquartered in Lake Forest, California with some 7,500 employees worldwide and has manufacturing facilities in the United States, Mexico, Taiwan, China, and the Philippines.{{Cite news|url=https://www.marketscreener.com/quote/stock/SPECTRUM-BRANDS-HOLDINGS-45081118/news/Spectrum-Brands-Assa-Abloy-acquires-the-HHI-division-of-Spectrum-Brands-for-MUSD-4-300-36381025/ |title=Spectrum Brands : Assa Abloy acquires the HHI division of Spectrum Brands for MUSD 4,300|website=marketscreener.com|date=September 9, 2021|access-date=September 9, 2021}}

Rayovac formerly manufactured alkaline batteries ranging in size from AAA to 9V, rechargeable nickel–metal hydride batteries, hearing aid batteries, lithium photo batteries, specialty batteries and portable power chargers. In addition, a variety of portable LED flashlights and lanterns are produced under the Rayovac brand,{{Cite web|url=http://www.rayovac.com/|title=Home - Rayovac|website=www.rayovac.com}} prior to its sale to Energizer Holdings. Energizer continues to manufacture some battery products under the Rayovac brand. In November 2018, the company sold their global auto care division (brands which included Armor All, STP, and A/C Pro) to Energizer as well.

• British Ever Ready Electrical Company

{{Reflist}}

• Noor, Robert; et al., [https://web.archive.org/web/20061126140924/http://www.thenorrs.com/projects/mba/RayovacAnalysis.pdf "RAYOVAC Case Analysis"], Southern Methodist University (archived 2006).

• {{Official website}}
• [https://www.rayovac.eu Rayovac International]
• [http://www.remingtonproducts.com Remington US]
• [http://www.russellhobbs.com Russell Hobbs US]
• [http://www.russellhobbs.co.uk Russell Hobbs UK]
• [http://uk.remington-europe.com Remington UK]
• [http://www.juiceman.com Juiceman]
• [http://www.breadman.com Breadman]
• [http://digital.library.wisc.edu/1711.dl/wiarchives.uw-whs-mss01170 Rayovac Records at Wisconsin Historical Society]

{{Spectrum Brands}}

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Category:1906 establishments in Wisconsin

Category:Companies based in Madison, Wisconsin

Category:Companies listed on the New York Stock Exchange

Category:1997 initial public offerings

Category:Companies that filed for Chapter 11 bankruptcy in 2009

Category:Conglomerate companies established in 1906

Category:Conglomerate companies of the United States

Category:Battery manufacturers

Category:Consumer battery manufacturers

Category:Home appliance manufacturers of the United States

Category:Manufacturing companies based in Wisconsin

Category:Manufacturing companies established in 1906

Category:Middleton, Wisconsin