Today, Energizer Holdings Inc (NYSE: ENR) announced their intention to acquire the HandStands car air freshener company. HandStands is widely considered to be one of the market leader in terms of domestic vehicular air fresheners. The company has signed a definitive agreement, which will allow them to be acquired by Energizer. Originally founded in 1983 in Draper, Utah, HandStands is a major supplier of automobile appearance and fragrance products. Over the years, the company has managed to add an array of brands to their arsenal, including California Scents, Driven, LEXOL, and Eagle One.
If everything goes according to plan, the transaction will close in the 3rd quarter of 2016. Today, ENR climbed 5.90% to close at $47.22. The stock has a 52-week low of $23.79 and a 52-week higher of $47.37. Over the past 6 months, the company has had a yield of .48%.