United Pet Group not to be sold

The American consumer goods group Spectrum Brands is not selling its pet supply business (United Pet Group) to Salton Inc. after all. “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.” The failure of the deal will have no effect on the day-to-day business of Tetra Europe, stressed managing director Wolfgang Mollenhauer: “No consideration has been or is being given to changing anything in the organisational structure of our healthy and successful company.”