M&A Deal Summary

KKR Acquires Duracell

On May 6, 1988, private equity firm KKR acquired electrical equipment company Duracell from Mondelez International for 1.8B USD

Acquisition Highlights
  • This is KKR’s 1st transaction in the Electrical Equipment sector.
  • This is KKR’s 52nd largest (disclosed) transaction.
  • This is KKR’s 4th transaction in the United States.
  • This is KKR’s 1st transaction in Connecticut.
Investment Fate
  • Duracell went public in 1989.
  • Duracell was sold to a strategic buyer in 1996 for 7.0B USD.
  • Duracell was divested to a consortium of strategic buyers in 2014 for 4.7B USD.

M&A Deal Summary

Date 1988-05-06
Target Duracell
Sector Electrical Equipment
Buyer(s) KKR
Sellers(s) Mondelez International
Deal Type Divestiture
Deal Value 1.8B USD

Target

Duracell

Bethel, Connecticut, United States
Duracell is a manufacturer and marketer of alkaline batteries. It markets its products throughout North America, China, Europe, Latin America, Africa and the Middle East. Duracell was established in 1924 and is based in Bethel, Connecticut.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 4 of 502
Sector: Electrical Equipment M&A 1 of 3
Type: Divestiture M&A Deals 1 of 54
State: Connecticut M&A 1 of 3
Country: United States M&A 4 of 213
Year: 1988 M&A 1 of 1
Size (of disclosed) 52 of 110
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1987-03-24 O-I Glass

Perrysburg, Ohio, United States

O-I Glass is a global glass container manufacturing company. The Company competes in the glass container segment of the rigid packaging market and is the leading glass container manufacturer in most of the countries where it has manufacturing facilities. O-I Glass was founded in 1903 and is based Perrysburg, Ohio.

Buy $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1989-01-01 RentPath

Norcross, Georgia, United States

RentPath, Inc. is a primary service is digital marketing for rental properties through a network of Internet listing websites, including Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com. RentPath was founded in 1975 and is based in Norcross, Georgia.

Buy -

Seller(S) 1

SELLER

Mondelez International

Chicago, Illinois, United States

Category Company
Founded 2000
Sector Food
Employees90,000
Revenue 36.4B USD (2024)
DESCRIPTION

Mondelez International is a multinational confectionery, food, and beverage company. Mondelez was established in 2000 and is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 10
Sector: Electrical Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 9
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 9
Year: 1988 M&A 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1984-07-01 Celestial Seasonings

Boulder, Colorado, United States

Celestial Seasonings is the largest manufacturer and marketer of herb teas in the United States. Its leading brands of herb teas included Sleepytime, Lemon Zinger, Mandarin Orange Spice, Peppermint and a variety of other proprietary blends. The company also manufactures an array of specialty black teas and a line of Iced Delight iced teas, and entered into an agreement with Perrier Group of America under which Perrier manufactures and markets a full line of ready-to-drink Celestial Seasonings bottled iced tea products in the United States.

Buy $40M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1988-11-01 Celestial Seasonings

Boulder, Colorado, United States

Celestial Seasonings is the largest manufacturer and marketer of herb teas in the United States. Its leading brands of herb teas included Sleepytime, Lemon Zinger, Mandarin Orange Spice, Peppermint and a variety of other proprietary blends. The company also manufactures an array of specialty black teas and a line of Iced Delight iced teas, and entered into an agreement with Perrier Group of America under which Perrier manufactures and markets a full line of ready-to-drink Celestial Seasonings bottled iced tea products in the United States.

Sell -