THE WHAT? Spectrum Brands has partnered with private equity firm CVC Capital Partners in an attempt to acquire personal care company Conair Corporation, according to Reuters.
THE DETAILS The deal looks to value Conair at around $2 billion including debt, with the Spectrum/CVC consortium said to be just one interested party in the company.
THE WHY? Appliance and skin care maker Conair is said to have been working with financial advisors to explore the prospect of a sale. With skin care and at-home styling remaining a steadfast favorite in the wake of the pandemic, the company is an attractive prospect.
CVC, Spectrum and Conair declined to comment.