Energizer announces acquisition of Rayovac
Energizer is buying out the competition — quite literally. The St. Louis-based company has announced that it has entered a definitive agreement to acquire Spectrum Brands Global Battery and Portable Lighting Business, which includes the brands Varta and Rayovac, for $2 billion in cash.
Spectrum’s generated 2017 revenue and EBITDA was $866 million and $169 million, respectively. Energizer intends to fund the acquisition through a combination of existing cash and committed debt facilities, including term loans and senior notes.
“The acquisition of Spectrum Batteries represents a compelling strategic, operational, and financial fit for Energizer,” Alan R. Hoskins, chief executive officer at Energizer, said. “The combination will enable us to leverage Spectrum Brands’ manufacturing assets, significantly expand our international business and enhance our long-term brand building capabilities as we broaden our portfolio with the Varta and Rayovac brands and our geographies with Spectrum Batteries’ passionate global colleagues. We have great respect for Spectrum Batteries and the strong business its colleagues have built, and are excited to bring together the talented colleagues from around the globe from both organizations to drive our business to new heights. In addition, the top-line and free cash flow growth from this acquisition, combined with the opportunity to realize meaningful synergies, will further enhance our ability to drive long-term shareholder value.”
The transaction is subject to customary closing conditions, including regulatory approvals and is expected to close prior to the end of calendar 2018.
Jack Link’s debuts portable snacks, announces leadership team addition
Jack Link’s is expanding its product line by launching an array of protein-based portable snacks, which incorporate the brand’s classic flavors mixed in with a few untraditional options for consumers.
The new offerings added to the Minong, Wis.-based company’s portfolio include:
Lorissa’s Kitchen Beef Sticks is made from 100% grass-fed beef and is seasoned and slow-smoked without any added nitrates, MSG or gluten. The 1-oz. meat stick will be available in February and comes in three flavors Original, Smokey Sweet and Jalapeño. Each contains 6 grams of protein and will be sold for the suggested retail price of $1.99 per stick.
Jack Link’s Cold Crafted is made with smoked meats and cheese, containing 100% beef and real Wisconsin cheese. The product will come in several varieties, including Smoked Meat Sticks Original, Loaded with Pepper Jack, Loaded with Cheddar Cheese, Beef and Cheese Bites, Smoked Meat Sticks and Cheese and Cheddar and Pepper Jack. Each pack will be sold for the suggested retail price of $3.49 in April when it hits shelves.
Jack Link’s Pork Rinds contains 1 gram of carbohydrates, 8 grams of protein, and will come in two flavors — Applewood BBQ and Sweet & Hot. Each pack will be sold for the suggested retail price of $1.99 in March when it debuts in the chip aisle.
Jack Link’s Multi-Packs contain 10 individually wrapped meat sticks made from 100% premium meat in each box. Hitting shelves in February, the product will debut in three flavors — Original Beef Sticks, Pepperoni Beef Sticks and Turkey Sticks. Each pack will be sold for the suggested retail price of $3.99.
Jack Link’s Steak Strips is made with 100% beef, 8 grams of protein and only 70 calories. The product will be available in two flavors — Original and Teriyaki — and be sold for the suggested retail price of less than $2 when it hits shelves in February.
“At Jack Link’s, we are the protein snacking company. Our teams are dedicated to bringing new consumers to the category through innovative thinking across our portfolio of brands,” T.D. Dixon, Jack Link’s chief marketing officer, said. “Our rapid innovation is really a product of our powerhouse research and development team. Their ability to take an idea and quickly turn it into a great-tasting product is unparalleled in our category.”
The new product launches come on the heels of the company naming Manuel Ortega as the vice president of research and product development. In this role, Ortega will ensure Jack Link’s has the right process and ingredients in place to bring new and existing products to market that deliver consistent quality for consumers, the company said.
Ben & Jerry’s remixes classic flavors in new formats
Ben & Jerry’s is kicking off 2018 by launching an array of new product offerings. The Los Angeles-based company is adding truffle-inspired flavors, non-dairy options and expanding the Pint Slices line.
“We wanted to bring the WOW factor to our fans for 2018,” Craig Koskiniemi, Ben & Jerry’s Flavor Guru, said. “As a foodie at home and at work, I’m inspired to come up with creative new combinations like a cold brew coffee-based Ben & Jerry’s flavor. These are guaranteed to keep the love of ice cream strong.”
The brand’s on-the-go ice cream bars called Pint Slices, will add three popular flavors to its lineup:
Cherry Garcia contains cherry ice cream bars with cherries and fudge flakes, covered in a dark chocolate coating.
Tonight Dough features caramel ice cream bars with chocolate cookie swirls and peanut butter chocolate chip cookie dough covered in a dark chocolate coating. Jimmy Fallon will be donating all his proceeds from the product to the SeriousFun Children’s Network.
Coffee, Coffee BuzzBuzzBuzz has coffee ice cream bars with espresso bean fudge chunks covered in a dark chocolate coating with cocoa nibs.
Ben & Jerry’s Truffle Pint lineup contains large chunks of truffles and will come in three options:
Chocolate Shake It features a chocolate malt milkshake ice cream with chocolate cookie-covered fudge truffles and marshmallow swirls.
Caramel Chocolate Cheesecake contains Caramel chocolate ice cream with graham cracker-covered cheesecake truffles and chocolate cookie swirls.
Chillin’ the Roast is made up of cold brew coffee ice cream with chocolate cookie-covered coffee liqueur truffles and fudge swirls.
The final addition to Ben & Jerry’s new lineup includes non-dairy and vegan offerings, which now are available in nine different pints. The two latest additions are:
- Peanut Butter Half Baked features chocolate and peanut butter with fudge brownies and peanut butter cookie dough.
- Cinnamon Buns contains cinnamon with cinnamon bun dough and a cinnamon streusel swirl.
The new pints and Pint Slices can be found in grocery stores nationwide for the suggested retail price of $4.99 for ice cream and $5.99 for non-dairy options.