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BRIEF-Energizer Holdings to acquire Handstands Holding Corp for $340 mln
May 24, 2016 / 10:16 AM / a year ago

BRIEF-Energizer Holdings to acquire Handstands Holding Corp for $340 mln

May 24 (Reuters) - Energizer Holdings Inc

* To acquire Handstands Holding Corporation for $340 million

* Intends to ultimately fund acquisition through a combination of approximately $250 million of existing cash and committed debt facilities

* To acquire Handstands Holding Corporation ("Handstands") from Trivest Partners for an aggregate cash purchase price of $340 million

* Transaction is expected to be leverage neutral to Energizer's projected levels of debt to EBITDA by Q1 of fiscal 2017

* Anticipates cost synergies of approximately $5 million to be achieved by leveraging Energizer's global battery platform, infrastructure and supply chain network

* Avings are projected to be achieved over a period of two years following close of acquisition

* Excluding items, earnings accretion from deal in first full year following close is estimated to be $0.15 to $0.20 per share

* Excluding one-time transaction and integration costs free cash flow is expected to increase by at least $20 million

* Anticipates cost synergies of about $5 million to be achieved by leveraging co's global battery platform, infrastructure, supply chain Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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