United Industries Closes United Pet Group Acquisition

United Industries Corporation, which goes to market as Spectrum Brands, announced August 2 that it has closed its previously announced acquisition of United Pet Group, Inc. ("UPG"), a privately owned leading manufacturer and marketer of premium branded pet supplies, for $360 million. The UPG transaction, United Industries' fifth in the past three years, diversifies the company beyond its lawn and garden and household pest control categories. UPG, headquartered in Cincinnati, will operate as a separate division of United Industries and will continue to be led by CEO John Heil. The combined companies will have annual sales of approximately $1 billion.

Over the past few years, UPG has doubled its profits and increased revenue by almost 60 percent to $250 million. UPG is a leader in the fast-growing pet supplies segment. Pet supplies spending in the United States is estimated to reach $8 billion this year, and has grown over 6 percent annually over the past decade. In addition, 62 percent of U.S. households have a pet, and 46 percent have multiple pets. Ownership of all pets - including dogs, cats, birds and fish - is also rising.

Source: PETS International Magazine