The iconic battery brand Rayovac has been sold to the company that made the Energizer bunny famous. Spectrum Brands announced on Tuesday that it will sell its battery and lighting businesses to Energizer Inc. for $2 billion in cash.
“We do realize that employees are anxious to learn what will only be happening to the battery business, but it’s just inappropriate and premature and unknown at this point,” said Spectrum Brands spokesperson Dave Prichard.
There are three principal Wisconsin locations scheduled to be sold in the deal:
Fennimore, which has 280 employees making AA and AAA batteries. Portage, which has 225 employees making batteries for hearing aid devices. Middleton World Headquarters, which has 195 employees working in research and development out of about 670 at that location
There also are some employees in Middleton who work in the North American HQ regional operations.
The deal isn’t expected to close until toward the end of the calendar year and any decisions on employees will be made by Energizer. Spectrum announced early in January that it was seeking a buyer for some of its divisions.
Rayovac has its origins with a battery company founded in Madison in 1906.