M&A Deal Summary

Spectrum Brands Acquires PetMatrix

On May 15, 2017, Spectrum Brands acquired food company PetMatrix from Friend Skoler

Acquisition Highlights
  • This is Spectrum Brands’ 1st transaction in the Food sector.
  • This is Spectrum Brands’ 12th transaction in the United States.
  • This is Spectrum Brands’ 1st transaction in New Jersey.

M&A Deal Summary
Date 2017-05-15
Target PetMatrix
Sector Food
Buyer(s) Spectrum Brands
Sellers(s) Friend Skoler
Deal Type Add-on Acquisition
Advisor(s) Goodwin Procter (Legal)

Target

PetMatrix

Saddle Book, New Jersey, United States
PetMatrix provides a broad portfolio of innovative, rawhide-free dog chews across its two flagship brands DreamBone and SmartBones. PetMatrix products are sold to mass merchandisers, food and drug stores, and pet specialty stores. The business benefits from a strong patent portfolio and has a robust pipeline of new products expected to drive future growth and product portfolio diversification opportunities.

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Buyer(S) 1

Buyer

Spectrum Brands

Middleton, Wisconsin, United States
Category Company
Sector Consumer Products
Employees12,100
Revenue 2.9B USD (2023)
DESCRIPTION

Spectrum Brands is a diversified consumer products company and a supplier of consumer batteries, residential locksets, residential builders’ hardware and faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Spectrum Brands is based in Middleton, Wisconsin.

DEAL STATS #
Overall 16 of 21
Sector (Food) 1 of 1
Type (Add-on Acquisition) 10 of 13
State (New Jersey) 1 of 1
Country (United States) 12 of 16
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-22 Armored AutoGroup

Danbury, Connecticut, United States

Armored AutoGroup Inc. is a consumer products company consisting primarily of Armor All and STP, two of the most iconic brands in the automotive aftermarket appearance products and performance products categories.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-16 Spectrum Brands Holdings - Global Battery & Portable Lighting Business

Middleton, Wisconsin, United States

Spectrum Brands Holdings, Inc. - Global Battery & Portable Lighting Business has a longstanding history, global footprint and diversified range of products including alkaline, carbon zinc, hearing aid and nickel metal hydride rechargeable batteries as well as battery chargers and portable lighting products.

Sell $2.0B

Seller(S) 1

SELLER

Friend Skoler

West Caldwell, New Jersey, United States
Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Friend Skoler is a private equity firm that invests in profitable middle-market companies across a range of industries. The Firm looks to commit $10 to $100 million of equity capital in businesses valued between $3 and $20 million. Generally, target companies have at least $10 million in sales and $1 million of EBIT. Sectors of interest include manufacturing, distribution, business services, direct marketing, e-commerce, event photography, digital imaging, retail and branded consumer products companies. The Firm will consider transactions ranging from buyouts and recapitalizations to expansion and acquisition financings. Friend Skoler was formed in 1998 and is based in Saddle Brook, New Jersey.

DEAL STATS #
Overall 7 of 9
Sector (Food) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (New Jersey) 1 of 1
Country (United States) 6 of 8
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 HEX Performance

Baltimore, Maryland, United States

HEX Performance is a manufacturer and marketer of advanced laundry detergent and related products specially formulated to clean synthetic fabrics more effectively than leading detergents. In addition, HEX’s products provide long-lasting fabric protection, reduce odor-causing bacteria in clothing, and are eco-friendly. Hex’s products are sold primarily to grocery, mass merchants, and online retailers in the U.S. HEX Performance was formed in 2013 and is based in Baltimore, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-25 Iconic Group

Atlanta, Georgia, United States

Iconic Group is a provider of professional event photography services to educational institutions and endurance race organizers. Iconic Group's divisions include Bob Knight Photo, Chappell Graduation Images, and MarathonFoto. Iconic Group provides professional photography services at 10,000 events and 30,000 shoot dates, taking 53 million consumer images per year under the GradImages, University Photo, WorldWide Photography, and MarathonFoto brands. Iconic Group is based in Atlanta, Georgia.

Sell -
Mergr

Product

Company

Legal