Spectrum Brands

In 2003, Rayovac decided to diversify,[3] and acquired non-battery related businesses including Remington Products and United Pet Group. In 2004, Rayovac successfully underbid Energizer (Eveready) as RadioShack's battery supplier and produced the "Enercell" brand of battery sold exclusively at RadioShack. In January 2005, Rayovac purchased United Industries Corporation for about $476 million in cash and stock. Brands included in United Industries were Vigoro, Spectracide and Sta-Green lawn products, Cutter, Hot Shot and Repel insect control products and pet supply products with the Marineland, Perfecto, and Eight in One brands.[9] In 2005, Tetra, a major provider of pet-fish products, was acquired. This diversification prompted the name change from Rayovac to Spectrum Brands.[3]

Rayovac also bought other battery companies including VARTA, Ningbo Baowang and Microlite S.A. The Microlite acquisition included the rights to the Rayovac name in Brazil, giving the company worldwide rights to the Rayovac name.[10] With this acquisition, Rayovac consolidated its presence in the majority of countries in Latin America. Rayovac is a well recognized brand in this region.

On February 3, 2009, Spectrum filed for Chapter 11 bankruptcy protection.[11] The company later emerged from bankruptcy on August 28, 2009.[12][13] Since emerging from Chapter 11, Spectrum has announced year-over-year increases in sales and adjusted earnings before interest, taxes, depreciation, and amortization for the second quarter of their fiscal 2010.

Rayovac, as a division of Spectrum Brands, remained headquartered in Madison, Wisconsin, along with Remington, even while the parent company, Spectrum Brands, was headquartered in Georgia. On April 15, 2010, Spectrum Brands announced that it would be moving its corporate headquarters back to Madison. Spectrum Brands moved its headquarters to Middleton, Wisconsin, a suburb of Madison, in October 2013.

Spectrum Brands finalized a merger with Russell Hobbs, Inc., formerly known as Salton, Inc., on June 16, 2010, to form a new $3 billion consumer products company. Russell Hobbs' brands include George Foreman Grill, Toastmaster, Black & Decker Home appliances, and Russell Hobbs.[14]

In 2012, Spectrum also purchased many non-tool assets from Stanley Black & Decker, primarily hardware, plumbing, and locks. While the Russel Hobbs purchase brought Black & Decker licensing to Spectrum (for small appliances), the HHI purchase did not involve brands marketed under the Black & Decker name. In 2022, Spectrum began negotiations to sell the HHI division to Swedish lockmaker Assa Abloy.

On April 28, 2015, Spectrum Brands entered the automotive supply business by acquiring Armored Auto group.[15]

On January 16, 2018, the Rayovac division was bought by Energizer for $2 billion.[6] On February 26, 2018, Spectrum Brands announced it was merging with controlling shareholder HRG Group, Inc. The move would not affect the pending sale of its battery division to Energizer. Spectrum management was expected to run the merged entity.[4] The combined company is to be named Spectrum Brands Holdings, Inc. and trade under the ticker symbol SPB. The company will remain in Middleton.[16]

In September 2021, Spectrum sold its Hardware and Home Improvement ("HHI") division to Assa Abloy for $4.3 billion. HHI has a varied portfolio of products, including patented SmartKey technology and electronic, smart and biometric locks. Key brands include Kwikset, Baldwin, Weiser, Pfister and National Hardware. HHI is headquartered in Lake Forest, California with some 7,500 employees worldwide and has manufacturing facilities in the United States, Mexico, Taiwan, China, and the Philippines.[17]