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Rayovac to Buy Brazilian Battery Company
Rayovac Corp. will buy Brazilian battery company Microlite S.A., of Sao Paulo,
for nearly $28 million in cash plus future payments
based on Microlite’s performance through
June 30, 2005. It would be the last step for Rayovac
to reclaim the worldwide rights to its brand name.
Rayovac plans to move its headquarters to Atlanta.
Microlite is currently owned by VARTA of Germany
and Tabriza Brasil Empreendimentos Ltda. of Brazil.
Under the agreement, Rayovac will buy all the
outstanding stock of Microlite, which owns the
Rayovac brand name in Brazil. Rayovac is the market-leading
brand in Brazil, with a 49% value share of the
alkaline and zinc carbon market.
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