NEW YORK (TheStreet) -- Spectrum Brands Holdings (SPB) , a consumer products company, said it would buy Procter & Gamble's (PG) European pet food business, which includes the Iams and Eukanuba dog and cat food brands.
Terms of the deal were not disclosed.
The business has approximately $200 million of annual sales and will provide Spectrum Brands' United Pet Group division access to the $21 billion European dog and cat food market which is growing at an estimated 3% to 5% annually.
TheStreet Ratings team rates SPECTRUM BRANDS HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SPECTRUM BRANDS HOLDINGS INC (SPB) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, expanding profit margins, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: