European Commission conditionally approves Energizer’s acquisition of Spectrum Brands’ batteries and portable lighting business

On 11 December 2018 the European Commission approved Energizer’s acquisition of Spectrum Brands’ batteries and portable lighting business subject to conditions.
Both Energizer and Spectrum Brands (with its Varta and Rayovac brands) are among the largest players in Europe with respect to the supply of consumer batteries, including household batteries (e.g. AA/AAA) and specialty batteries (e.g. watch or camera batteries), and also hearing aid batteries. In order to address the competition concerns raised by the Commission, Energizer agreed to divest Spectrum’s consumer batteries business in the EMEA region and to enter into an exclusive supply and licence agreement with the purchaser with the opportunity to develop its own hearing aid battery business by the end of the supply period.
A CRA team including Cristina Caffarra, Dan Donath, Raphaël De Coninck, Michael Muehlbradt, Kirsten Abeln, Edmund Keen and Jakub Drabik advised the Parties during the EC merger proceedings.
For more details, please see the Commission’s press release here.