Nearly a year after putting its appliances division up for sale, Spectrum Brands said it will now retain the business.
In a press release announcing the sale of its Global Auto Care Business to Energizer Holdings, the company said it is reclassifying Appliances, which consists of small appliances and personal care, as continuing operations effective the first quarter of its fiscal year 2019, ending December 31 of this year.
The sale of its auto care business is valued at $1.25 billion. The company did not further address its decision to keep its appliances division.
In the months since the sale of the appliances division was announced, the company continued moving forward with product development under a host of brands including Black + Decker, Russell Hobbs and George Foreman.
In September, the company launched a partnership with actress Kate Beckinsale to serve as the brand ambassador for Russell Hobbs.