The US consumer goods group Spectrum Brands Holdings, Inc., acquired Salix Animal Health, LLC at the end of January 2015. Spectrum Brands retained Luther Rechtsanwaltsgesellschaft mbH and Taxand Netherlands to assist with the tax law aspects involved in the acquisition of Salix's Dutch companies by its German Holding. The company had already retained the team the year before, when it acquired the European pet food business from Procter & Gamble.
Salix primarily produces and sells premium pet food for dogs. The consumer goods company generates annual sales of around USD 100 million. It owns several production sites in South America as well as an extensive distribution network - an infrastructure from which Spectrum Brands will be able to benefit in the future. The parties agreed to keep the financial terms of the transaction confidential.
About Spectrum Brands
Spectrum Brands Holdings is a consumer goods company that operates in 140 countries around the globe, producing and selling, among other things, consumer batteries, residential locksets, kitchen and bath faucets, small household appliances, as well as various other products for house, garden and fishkeeping. In Germany, well-known brands include, for example, VARTA®, Remington® and Black & Decker. The company is headquartered in Middleton, Wisconsin (USA), and generated net sales of around USD 4.43 billion in 2014. It is listed on the NYSE (NYSE: SPB). Spectrum Brands’ Global Pet Supplies Business is a business unit of Spectrum Holdings. The company has specialized in the worldwide distribution of pet supplies and generated net sales of around USD 600 million in 2014. www.unitedpetgroup.com
For Spectrum Brands
Luther Rechtsanwaltsgesellschaft, Frankfurt/Main: Ulrich Siegemund (Lead Counsel, Partner), Sami Omar, Katarzyna Hardt (all Tax Law)
Taxand Netherlands, Amsterdam: Marc Sanders (Partner, M&A and Tax Law), Gertjan Hesselberth (Partner, Tax Law)
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