The American consumer products company Spectrum Brands will not be selling its pet supplies business United Pet Group to Salton Inc. A respective press release was published by Spectrum Brands yesterday evening.
"Despite our desire and diligent efforts to complete this transaction upon the negotiated terms, we have been unable to obtain the consent of our senior lenders necessary to close on a basis that would be in the best interests of our shareholders and the Company," said Kent Hussey, CEO of Spectrum Brands. "We will therefore continue to operate the global pet supply business and work to capture the strong market potential we see there."
This non-sale will not affect TetraEurope's day-to-day business, declared CEO Wolfgang Mollenhauer. "We have never considered making any changes to our organizational structure. Our company is economically sound and successful in the market", said Mollenhauer.
"Despite our desire and diligent efforts to complete this transaction upon the negotiated terms, we have been unable to obtain the consent of our senior lenders necessary to close on a basis that would be in the best interests of our shareholders and the Company," said Kent Hussey, CEO of Spectrum Brands. "We will therefore continue to operate the global pet supply business and work to capture the strong market potential we see there."
This non-sale will not affect TetraEurope's day-to-day business, declared CEO Wolfgang Mollenhauer. "We have never considered making any changes to our organizational structure. Our company is economically sound and successful in the market", said Mollenhauer.
