© varta consumer Electronics Production | January 07, 2020
VARTA AG completes acquisition of VARTA Consumer from Energizer
VARTA AG successfully completed the acquisition of the Europe-based VARTA Consumer Batteries business (VARTA Consumer) from US-based Energizer Holdings, Inc.
VARTA Consumer comprises numerous national subsidiaries and has its main production site in Dischingen, Germany. The European Commission had already approved the transaction on 3 December 2019. VARTA AG has also made a commitment to continue to supply existing and potential customers with hearing aid batteries for a specified period of time. As a result of the transaction, the worldwide VARTA brand rights for portable batteries, microbatteries and energy storage systems will once again be united under the umbrella of VARTA AG. “We are delighted to have successfully completed the transaction. With this deal, we are seizing the unique opportunity to bring together businesses that belong together. We are ideally positioned for the future, especially for the massive expansion of our highly profitable lithium-ion production,” says Herbert Schein, CEO of VARTA AG in a press release. VARTA AG acquired VARTA Consumer at an enterprise value of EUR 180 million. The final price will be determined on the basis of a closing balance sheet to be prepared on the closing date.