Energizer to acquire car fragrance maker HandStands in $340 million deal

Energizer Holdings is acquiring HandStands Holding, a a Utah-based manufacturer of car fragrance products, for $340 million.

Town and Country-based Energizer is acquiring HandStands, maker of Refresh Your Car! and California Scents, from private equity firm Trivest Partners, which is based in Coral Gables, Fla.

“HandStands represents a compelling strategic, operational and cultural fit for Energizer,” Alan Hoskins, Energizer CEO, said in a statement.

Energizer said it plans to pay for the acquisition through $250 million in existing cash and committed debt facilities and expects its free cash flow  to increase by at least $20 million from the deal, excluding one-time transaction and integration costs.

The sale is expected to close in the fourth quarter, Energizer said Tuesday. HandStand’s 2015 net sales totaled $128 million.

Read more: St. Louis Post-Dispatch, St. Louis Business Journal

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