energizer buys air freshener maker handstands for $340 million - solar powered car air freshener

The energetic rabbit continued.
Now it will make your car smell better.
The battery maker announced on Tuesday that it will acquire automotiveair-
Freshener manufacturers stand out from private equity partners for $0. 34 billion.
HandStandsis is known for refreshing your Carlin
Clean wet wipes for car air freshener and Lexol leather.
In a statement announcing the agreement, CEOof Energizer said: "The handstand represents a compelling strategy, operation and culture that is appropriate for Energizer . ".
"The handheld business is a complement to our existing business and there are opportunities for growth.
Energizer said that the two companies have similar customers and distribution channels, and using Energizer's supply chain network will improve the efficiency of the two companies.
The move comes as the auto air freshener market continues to grow steadily.
According to a report by Grand View Research late last year, the North American air freshener market is expected to reach $994.
By 2022, it was $4 million, up from $764.
2014 1 million.
Last year, HandStands earned $0. 128 billion, of which 80% came from sales in the United States. S.
Energizer will provide about $0. 25 billion in cash and remaining debt for the deal.
The acquisition is expected to be completed in the fourth quarter, and Energizer predicts that in the first fiscal year, HandStands will raise itsearnings by 15 to 20 cents per share and increase free cash flow by at least 20 million
Shares of strength (ENR)
The close rose 6% to $47. 26.