Rayovac acquires Tetra

Rayovac Corp., a global consumer products company, announced that it has entered into a definitive agreement to acquire Tetra Holding GmbH for a purchase price of approximately 415 mio. €. This acquisition extends Rayovac's leading position in the rapidly growing North American specialty pet supplies category to a global presence. Tetra currently operates in over 90 countries worldwide and holds leading market positions in Germany, the United States, Japan and the U.K. Tetra has approximately 700 employees and generates approximately 200 mio. € in annual net sales. Principal selling shareholders are Triton, an international private equity firm, as well as AXA Private Equity and Tetra management. Closing of the transaction is subject to customary conditions and is currently expected to occur prior to June 30, 2005.