Spectrum Brands Holdings to acquire Stanley Black & Decker
Madison-based Spectrum Brands Holdings, Inc. will acquire Stanley Black & Decker for $1.4 billion in cash in a deal expected to be completed by the end of the year. The hardware and home improvement business will operate as a separate unit within Spectrum and be led by its current president.
The transaction also includes the acquisition of Tong Lung Metal Industry Co. Ltd. of Taiwan, which manufactures residential and commercial locksets and has locations in Taiwan and the Philippines. The Tong Lung acquisition should be completed in early 2013.