Batteries Plus Bulbs, a leading omni-channel retailer of batteries, light bulbs and device repair services, announced that it has been acquired by Freeman Spogli & Co., management and other investors.
Financial terms of the transaction were not disclosed.
Founded in 1988 and headquartered in Hartland, Wisconsin, Batteries Plus Bulbs is a leading specialty retailer serving both the direct-to-consumer and commercial channels. Through a network of more than 630 franchise locations and 48 company-owned stores across 48 states, the Company offers a differentiated value proposition of unrivaled product selection, in-stock availability and customer service. Batteries Plus Bulbs’ comprehensive product offering includes over 34,000 system-wide SKUs that span 35 battery and 30 light bulb sub-segments, and serves a wide variety of applications including automotive, marine, power sports, lawn and garden equipment, consumer electronics, security systems and connected home applications. This selection is complemented by extensive category expertise and value-added services including diagnostics, installation and recycling.
“Batteries Plus Bulbs is uniquely positioned as the category specialist in its large and growing markets. In categories where purchases are typically need-based, time-sensitive and driven by convenience and service, the Company has successfully established customer loyalty through its unmatched product offering and knowledgeable staff,” said Benjamin Geiger, a Partner at Freeman Spogli. “Russ Reynolds, Tom O’Hare and the rest of the management team have done an outstanding job positioning Batteries Plus Bulbs as the leader in its categories, and we believe there is significant whitespace to further expand the Company’s footprint. We are pleased to be partnering with management in the next phase of this exciting growth story.”
Russ Reynolds, CEO of Batteries Plus Bulbs, said, “We are thrilled to partner with Freeman Spogli, whose expertise and experience in high-growth retail, retailers with commercial strategies and franchising are a perfect fit for the Company and will be invaluable resources as we continue to grow our business.”
Morgan, Lewis and Bockius LLP acted as the legal advisor to Freeman Spogli & Co. and Paul, Weiss, Rifkind, Wharton & Garrison LLP and DLA Piper LLP acted as the legal advisors to the Company and its controlling shareholder. Robert W. Baird & Co. acted as lead financial advisor to the Company.
July 6, 2016