Spectrum Brands Announces Completion of Cash Tender Offer and Redemption Relating to its 6.375% Senior Notes Due 2020

MIDDLETON, Wis.–(BUSINESS WIRE)–Spectrum Brands Holdings, Inc. (NYSE: SPB) announced today that its
wholly owned subsidiary Spectrum Brands, Inc. (“Spectrum Brands”)
completed its cash tender offer (the “Tender Offer”) to purchase any and
all of Spectrum Brands’ 6.375% Senior Notes due 2020 (the “Notes”). The
Tender Offer expired at 5:00 p.m., New York City time, on September 19,
2016 (the “Expiration Date”). Spectrum Brands received tenders from the
holders of $390,320,000 of its outstanding Notes. Spectrum Brands has
accepted for purchase all Notes which were validly tendered prior to the
Expiration Date.

In addition, Spectrum Brands has instructed the trustee under the
indenture governing the Notes (the “Indenture”) to redeem the remaining
$129,680,000 aggregate principal amount of Notes at a redemption price
equal to 100% of such Notes plus the Applicable Premium (as defined in
the Indenture) and accrued and unpaid interest to, but not including,
the redemption date. The redemption of the Notes will occur on October
20, 2016.

This press release does not constitute a notice of redemption under the
optional redemption provisions of the indenture governing the Notes, nor
does it constitute an offer to sell, or a solicitation of an offer to
buy, any security. No offer, solicitation, or sale will be made in any
jurisdiction in which such an offer, solicitation, or sale would be

About Spectrum Brands Holdings, Inc. and Spectrum Brands, Inc.

Spectrum Brands Holdings, a member of the Russell 1000 Index, is a
global consumer products company offering an expanding portfolio of
leading brands providing superior value to consumers and customers every
day. The Company is a leading supplier of consumer batteries,
residential locksets, residential builders’ hardware, plumbing, shaving
and grooming products, personal care products, small household
appliances, specialty pet supplies, lawn and garden and home pest
control products, personal insect repellents, and auto care products.
Helping to meet the needs of consumers worldwide, our Company offers a
broad portfolio of market-leading, well-known and widely trusted brands
including Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National
Hardware®, Pfister®, Remington®, George Foreman®, Russell Hobbs®, Black+
Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®,
FURminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®,
Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®,
Armor All®, STP® and A/C PRO®. Spectrum Brands’ products are sold by the
world’s top 25 retailers and are available in more than one million
stores in approximately 160 countries. Based in Middleton, Wisconsin,
Spectrum Brands Holdings generated net sales of approximately $4.69
billion in fiscal 2015. For more information, visit

Forward-Looking Statements

Certain matters discussed in this news release and other oral and
written statements by representatives of the Company regarding matters
such as the Tender Offer, expected sales, adjusted EBITDA, debt
reduction and leverage, and other measures of financial performance, may
be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by words such as “future,” “anticipate”, “intend,” “plan,”
“estimate,” “believe,” “expect,” “project,” “forecast,” “could,”
“would,” “should,” “will,” “may,” and similar expressions of future
intent or the negative of such terms. These statements are subject to a
number of risks and uncertainties that could cause results to differ
materially from those anticipated as of the date of this release. Actual
results may differ materially as a result of (1) Spectrum Brands’
ability to manage and otherwise comply with its covenants with respect
to its significant outstanding indebtedness, (2) our ability to finance,
complete, integrate, and realize synergies from acquisitions, (3) risks
related to changes and developments in external competitive market
factors, such as introduction of new product features or technological
developments, development of new competitors or competitive brands or
competitive promotional activity or spending, (4) changes in consumer
demand for the various types of products Spectrum Brands offers, (5)
unfavorable developments in the global capital markets, (6) the impact
of overall economic conditions on consumer spending, (7) fluctuations in
commodities prices, the costs or availability of raw materials or terms
and conditions available from suppliers, (8) changes in the general
economic conditions in countries and regions where Spectrum Brands does
business, such as stock market prices, interest rates, currency exchange
rates, inflation and consumer spending, (9) Spectrum Brands’ ability to
successfully implement manufacturing, distribution and other cost
efficiencies and to continue to benefit from its cost-cutting
initiatives, (10) Spectrum Brands’ ability to identify, develop and
retain key employees, (11) unfavorable weather conditions and various
other risks and uncertainties, including those discussed herein and
those set forth in the securities filings of each of Spectrum Brands
Holdings, Inc. and SB/RH Holdings, Inc., including each of their most
recently filed Annual Reports on Form 10-K or Quarterly Reports on Form

Spectrum Brands also cautions the reader that its estimates of
trends, market share, retail consumption of its products and reasons for
changes in such consumption are based solely on limited data available
to Spectrum Brands and management’s reasonable assumptions about market
conditions, and consequently may be inaccurate, or may not reflect
significant segments of the retail market. Spectrum Brands also cautions
the reader that undue reliance should not be placed on any
forward-looking statements, which speak only as of the date of this
release. Spectrum Brands undertakes no duty or responsibility to update
any of these forward-looking statements to reflect events or
circumstances after the date of this report or to reflect actual


Investor/Media Contact:
Spectrum Brands Holdings, Inc.