On 2 May 2025, Energizer announced it had completed its acquisition of Advanced Power Solutions (APS), a leading supplier of consumer batteries with a manufacturing facility in Poland.
Both Parties supply consumer batteries, including household batteries (e.g., AA/AAA), specialty batteries (e.g., watch or camera batteries), and hearing aid batteries across multiple EU Member States and the UK. CRA provided economic assistance to Energizer with the competitive assessment across multiple jurisdictions, including the counterfactual evaluation in which the license agreement allowing APS to manufacture and supply batteries under the Panasonic brand played a key role.
A CRA team including Dan Donath, Uğur Akgün, and Michael Muehlbradt advised Energizer throughout the merger control process, which resulted in unconditional clearances by the national competition authorities in Germany and Poland.
More details are available in Energizer’s press release and on the Bundeskartellamt website.
