# Spectrum Brands Buys Aquarium Company



## fish_doc (Jan 31, 2005)

Spectrum Brands Inc., a maker of batteries, lawn products and other consumer goods, said Friday that it bought aquarium-supplies company Jungle Laboratories Corp. for $29 million as part of its strategy for becoming a larger supplier of specialty pet products. 


San Antonio-based Jungle Labs, whose products include fish, water and pond-care items, generates about $14 million in annual revenue and is expected to slightly boost Spectrum's earnings for fiscal 2006, the company said. 

Analysts expect Spectrum to earn $2.65 per share for fiscal 2006, according to a Thomson Financial survey. The purchase multiple that Spectrum paid is about seven times Jungle's trailing operating income, and the company said it could pay a further amount if Jungle meets certain growth targets.

http://biz.yahoo.com/ap/050902/spectrum_brands_acquisition.html?.v=1


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## fish_doc (Jan 31, 2005)

I wish I could find a deal like that. If I understand it right it has 14 million a year in profits. That means the company pays itself off in 2 years. After that its all profits.


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## fish_doc (Jan 31, 2005)

Dont worry solor-ton there are lots of stories out there to bring up to the group. LOL


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## TheOldSalt (Jan 28, 2005)

No, not 14 million in profit, but 14 million is SALES. Very big difference.


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## fish_doc (Jan 31, 2005)

The company I work for sold a division for 2 million the division made 4 million a year in profit. It had 25 Million a year in sales. They sold it to a vp that was leaving the company. They said they were selling it because it didn't fit in the corporate profile of the rest of the business. Yea right. It sure fit in the vp's pocket nicely. He had it paid off in 6 months.


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## solar-ton (Aug 15, 2005)

lol yet again fish_docs links.there should be a forum called fish_docs links rofl


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