Spectrum Brands Holdings, Inc., a global consumer product company, signed a definitive agreement to acquire privately owned PetMatrix, LLC, a manufacturer and marketer of rawhide-free dog chews.
PetMatrix is on pace to achieve approximately US$75 million in sales in calendar year 2017, according to a Spectrum press release. Financial terms were not disclosed about Spectrum’s pet product company acquisition via an accretive, all-cash transaction.
The pet product company acquisition, which has been approved by Spectrum Brands' Board of Directors, is expected to close by the end of May 2017 and is subject to customary closing conditions.
