Spectrum Brands in the US is bringing all the small appliance brands of Russell Hobbs Inc within its operating structure to form a new £3bn annual turnover company.
The deal, which is effectively a merger, covers names including George Foreman, Haden and Tower as well as Russell Hobbs, and “will enable the combined company to reap the benefits of a deep and diverse portfolio of well-known consumer brands, a strong balance sheet, significant synergies and enhanced growth opportunities”, said Spectrum.
Salton Europe, which distributes the brands in the UK, has now been renamed Russell Hobbs Europe. But the company’s president and general manager Martin Burns told HousewaresLive.net that it was otherwise business as usual.
“So as far as the customers are concerned, in the short term, and probably the medium and long term, they shouldn’t see any changes,” he said.
Spectrum Brands is a global consumer products supplier of batteries, shaving and grooming products, personal care products, pet and garden supplies and lighting.