Spectrum Brands $4.3 billion sale of its Hardware & Home Improvement segment
Davis Polk is advising Spectrum Brands Holdings, Inc. on the $4.3 billion sale of its Hardware & Home Improvement (“HHI”) segment to ASSA ABLOY Group. The sale of HHI is expected to close following the receipt of certain regulatory approvals and customary closing conditions.
Spectrum Brands Holdings is a home-essentials company with a mission to make living better at home and a focus on delivering innovative products and solutions to consumers for use in and around the home through their trusted brands. The ASSA ABLOY Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation.
The Davis Polk corporate team includes partners Brian Wolfe and Cheryl Chan and associates Malik M. Khalil and Allison N. First. The tax team includes partner David H. Schnabel and associate Yixuan Long. Counsel Stephen I. Brecher is providing executive compensation advice. Partner Howard Shelanski is providing antitrust and competition advice. Partner Pritesh P. Shah and associate Samantha Lefland are providing intellectual property advice. All members of the Davis Polk team are based in the New York office.