UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report:
October 31, 2007
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(Date of earliest event reported)
SPECTRUM BRANDS, INC.
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(Exact Name of Registrant as Specified in Charter)
Wisconsin 001-13615 22-2423556
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(State or other Jurisdiction (Commission File No.) (IRS Employer
of Incorporation) Identification No.)
Six Concourse Parkway, Suite 3300,
Atlanta, Georgia 30328
(Address of principal executive offices, including zip code)
(770) 829-6200
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(Registrant's telephone number, including area code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS
On October 31, 2007, Spectrum Brands, Inc. announced that it has completed
the sale of the Canadian division of its Home & Garden business segment. A copy
of the press release is attached as Exhibit 99.1 to this Current Report on Form
8-K.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 Press Release dated October 31, 2007 issued by Spectrum Brands, Inc.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: October 31, 2007 SPECTRUM BRANDS, INC.
By: /s/ Anthony L. Genito
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Name: Anthony L. Genito
Title: Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit Description
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99.1 Press Release dated October 31, 2007 issued by Spectrum Brands, Inc.
Exhibit 99.1
Spectrum Brands Completes Sale of Canadian Home & Garden Division
ATLANTA--(BUSINESS WIRE)--Nov. 1, 2007--Spectrum Brands (NYSE:SPC)
today announced that it has completed the sale of the Canadian
division of its Home & Garden business segment, which operates under
the name Nu-Gro. Net proceeds from the sale will be utilized to reduce
Spectrum Brands' outstanding debt balance. The company currently
estimates that its FY 2008 peak seasonal borrowing needs will be
reduced by approximately $45 million as a result of cash proceeds from
the transaction and the elimination of the working capital requirement
for the Canadian Home & Garden business in the 2008 lawn and garden
selling season. In addition, the company reiterated its commitment to
further reducing outstanding indebtedness and leverage through the
sale of assets.
About Spectrum Brands, Inc.
Spectrum Brands is a global consumer products company and a
leading supplier of batteries, lawn and garden care products,
specialty pet supplies, shaving and grooming products, household
insect control products, personal care products and portable lighting.
Spectrum Brands' products are sold by the world's top 25 retailers and
are available in more than one million stores in more than 120
countries around the world. Headquartered in Atlanta, Georgia,
Spectrum Brands generated FY2006 revenue of $2.5 billion. The
company's stock trades on the New York Stock Exchange under the symbol
SPC.
CONTACT: Spectrum Brands
Investor Contact:
Nancy O'Donnell, 770-829-6208
VP Investor Relations
or
Sard Verbinnen & Co for Spectrum Brands
Media Contact:
Jamie Tully or Victoria Hofsted, 212-687-8080