Avista Capital to sell Amored AutoGroup for $1.4 bln

Spectrum Brands Holdings Inc. said late Tuesday it agreed to buy Armored AutoGroup Parent Inc. for $1.4 billion in cash and debt. The seller is Avista Capital Partners. Armored AutoGroup is a consumer products company comprised mainly of two brands, ArmoredAll and STP. Credit Suisse, Deutsche Bank and Jefferies are providing debt financing. Credit Suisse Securities (USA) LLC and Deutsche Bank AG provided financial advice to Spectrum while J.P. Morgan Securities LLC advised Armored AutoGroup.

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