In keeping with its Jan 2012 announcement of relocating its
global headquarters prior to year-end 2013,
Spectrum Brands Holdings Inc.
) is now set to move to its recently constructed facility in the
suburb of Madison.
Spectrum Brands stated that its global headquarters along with
some of its North American divisional businesses and its
technology hub will occupy the large and improved office space in
the Discovery Springs area of Middleton, Wis. These movements
will facilitate the shifting of over 500 employees to the new
Spectrum Brands' new global headquarters has been developed by
Livesey Company, a family-owned, commercial real estate
development company based in Middleton. Wisconsin Economic
Development Corporation provided financial backing to the
Spectrum Brands' new headquarter is well equipped, being more
cost-effective and energy-efficient. Moreover, the new facility
has an in-built capacity to accommodate nearly 675 full-time
personnel. Additionally, the new facility houses the "Spectrum
Brands Institute of Design & Technology" comprising modern
labs and equipment.
Further, the facility has additional capacity of up to nearly
20% for research, innovation and new product development for the
company's battery, personal care and home appliances businesses.
The company's decision to retain its headquarters in the Madison
area of Wisconsin is guided by the space efficiencies and cost
saving benefits that the area and the new Middleton facility
offer. Further, the company has been a resident in the region for
over a decade, performing a major role in providing employment in
Dane County and other parts of Wisconsin.
Spectrum Brands has been functional in the Madison area since
1985, when it moved into the newly built facility at 601 Rayovac
Drive. Though the company has held its headquarters at Atlanta
for about six years, it moved back to the Rayovac complex in
2010, rejecting the proposal to relocate to Miramar, Fla.
Additionally, the company operates a battery technology center
since 1965, close to the Rayovac complex that was constructed
later. The company's lease at The Rayovac Drive facility will
expire on Dec 31, 2013.
ENERGIZER HLDGS (ENR): Free Stock Analysis
JARDEN CORP (JAH): Free Stock Analysis Report
SPECTRUM BRANDS (SPB): Free Stock Analysis
TUPPERWARE BRND (TUP): Free Stock Analysis
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Apart from its recently relocated headquarters, Spectrum Brands
operates Wisconsin battery manufacturing plants in Fennimore and
Portage, employing about 300 and 200 people, respectively.
Additionally, the company operates a returns center in DeForest.
We believe the new headquarters will effectively support the
company's long history of investments in the state, while
facilitating efficient cost reduction to enable the company to
remain competitive and significantly expand over the long term.
Spectrum Brands currently holds a Zacks Rank #3 (Hold). Other
stocks performing well in the consumer discretionary sector
Energizer Holdings Inc.
Tupperware Brands Corporation
). Of these, Jarden carries a Zacks Rank #1 (Strong Buy), while
Energizer and Tupperware hold a Zacks Rank #2 (Buy).