1. Newell Brands for home, garden, and pet products.

2. A focused Procter & Gamble for hardware, garden, and pet supplies.

• Global Pet Care Products: Offers a wide range of pet supplies including aquatics, dog and cat products (food, treats, toys, litter solutions), and small animal care items under brands like Tetra, Dingo, FURminator, and Nature's Miracle.
• Home & Garden Products: Provides various lawn, garden, and household pest control solutions, including insecticides, repellents, herbicides, and cleaning products under brands such as Spectracide, Cutter, Hot Shot, and Rejuvenate.
• Automotive & Heavy Duty Aftermarket Products: Manufactures and distributes professional maintenance and appearance products for automotive, heavy duty, and marine applications through The Penray Companies.

Spectrum Brands (SPB) - Major Customers

• Walmart Inc. (WMT) - Likely the largest customer mentioned in their 10-K due to its extensive retail presence and product breadth.
• The Home Depot, Inc. (HD) - A major retailer for home and garden products.
• Lowe's Companies, Inc. (LOW) - Another significant retailer for home and garden products.
• Amazon.com, Inc. (AMZN) - A dominant online retailer for a wide range of consumer goods, including pet care and home products.
• Target Corporation (TGT) - A major general merchandise retailer.
• Pet specialty retailers and distributors: Including companies like Chewy, Inc. (CHWY) and other pet retail chains.

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David M. Maura, Executive Chairman and Chief Executive Officer

David M. Maura was appointed Executive Chairman and CEO of Spectrum Brands in July 2018, having previously served as Executive Chairman and CEO of SPB Legacy. His background includes significant involvement with investment and acquisition entities. He served as a Managing Director and Executive Vice President of Investments at HRG Group (a publicly-listed acquisition company) from October 2011 until November 2016 and was a member of its board of directors. Prior to HRG Group, Mr. Maura was a Vice President and Director of Investments at Harbinger Capital Partners LLC, an investment firm, from 2006 to 2012. He also held the roles of Chairman, President, and Chief Executive Officer of Mosaic Acquisition Corp., a special purpose acquisition company (SPAC), from October 2017 to January 2020. Mosaic Acquisition Corp. completed a merger with Vivint Smart Home, Inc., resulting in Vivint becoming a publicly traded company. Mr. Maura then joined Vivint Smart Home, Inc.'s board of directors. His earlier career included roles as a Managing Director and Senior Research Analyst at First Albany Capital, Inc., focusing on distressed debt and special situations, and as a Director and Senior High Yield Research Analyst at Merrill Lynch & Co.

Faisal Qadir, Executive Vice President and Chief Financial Officer

Faisal Qadir was appointed Executive Vice President and Chief Financial Officer of Spectrum Brands on September 3, 2025. He has been with the company since 2012, serving in various senior finance leadership capacities, including Vice President of Strategic Finance and Enterprise Reporting, Vice President of Investor Relations, and CFO for the Global Pet Care and Home and Personal Care businesses. Before joining Spectrum Brands, Mr. Qadir held several finance leadership positions of increasing responsibility at The Black & Decker Corporation and Stanley Black & Decker from 2003 to 2012, encompassing areas such as FP&A, Operations Finance, and Controllership.

Ehsan Zargar, Executive Vice President, General Counsel and Corporate Secretary

Ehsan Zargar was appointed Executive Vice President, General Counsel, and Corporate Secretary of Spectrum Brands on October 1, 2018. In this role, he is responsible for the company's legal, environmental, social and governance, health and safety, insurance, and real estate functions. He also plays a key role in negotiating and implementing the company’s mergers and acquisitions, capital markets, and other strategic activities. Prior to Spectrum Brands, Mr. Zargar held several increasingly senior positions with HRG Group, a publicly-listed acquisition company, from June 2011 until July 2018. These roles included Executive Vice President and Chief Operating Officer, General Counsel, and Corporate Secretary. He also previously practiced law at major law firms, including Paul, Weiss, Rifkind, Wharton & Garrison LLP.

John Pailthorp, President, Global Pet Care

John Pailthorp was appointed President of Spectrum Brands' Global Pet Care (GPC) Division in October 2019. He initially joined Spectrum Brands in 2002, beginning his career in Brand Management for lawn & garden products within the Home & Garden division. Over the years, Mr. Pailthorp advanced through various marketing leadership roles, including Division Vice President of Home & Garden Marketing in 2010 and Senior Vice President and General Manager of GPC since December 2018.

Javier Andrade-Marin, President, Home & Garden

Javier Andrade-Marin was appointed President of Spectrum Brands' Home & Garden (H&G) Division in November 2022. Before joining Spectrum Brands, he served as General Manager, Retail Brands US, at Henkel North America from 2020 to 2022, and as Vice President Marketing for Laundry and Home Care at Henkel North America from 2018 to 2020. His earlier career includes various operational and marketing positions across Europe, Latin America, and the United States at companies such as Reckitt Benckiser, Verizon Communications, and The Walt Disney Company.

The accelerating shift towards direct-to-consumer (D2C) sales models and subscription services across consumer goods categories, particularly in pet care and personal grooming, threatens Spectrum Brands' traditional retail-dependent distribution strategy and direct customer relationships.

Spectrum Brands (SPB) operates in several key consumer product categories, each with substantial addressable markets. The primary segments include Pet Care, Home & Garden, and Home and Personal Care (encompassing small household appliances and personal care products).

Pet Care

• The global pet care market was valued at approximately USD 304.4 billion in 2023 and is projected to grow to about USD 427.75 billion by 2032. Other estimates place the global market at USD 380 billion in 2025, with a projection to reach USD 650 billion by 2030.
• In North America, the pet care market was valued at USD 146.7 billion in 2023 and is projected to reach USD 255.3 billion by 2032. Another report indicated the North American market generated USD 68.67 billion in revenue in 2022 and is expected to reach USD 100.37 billion by 2030. The U.S. alone accounted for over USD 100 billion in pet care expenditures in 2022.

Home & Garden

• The global home & garden product retail market recorded revenues of USD 1.81 trillion in 2023.
• The broader market for retail home improvement and gardening products globally reached USD 1.19 trillion in 2021.
• Specifically for home gardening, the global market size was approximately USD 14.90 billion in 2024, expected to reach USD 15.78 billion in 2025 and around USD 26.47 billion by 2034.
• The global lawn and garden consumables market is valued at USD 24.1 billion in 2025 and is projected to reach USD 36.7 billion by 2035.
• North America holds a significant share of the global home & garden product retail market, accounting for 48.8% in 2023.
• The North America gardening equipment market generated USD 30.86 billion in revenue in 2022 and is expected to reach USD 49.95 billion by 2030.
• The North America gardening tools market size was valued at USD 2.1 billion in 2025 and is projected to reach USD 2.8 billion by 2032.
• The U.S. lawn and garden consumables market is estimated at USD 8.5 billion in 2025.

Home and Personal Care (Small Household Appliances and Personal Care Products)

• The global beauty and personal care products market size was valued at USD 557.88 billion in 2024 and is expected to reach USD 818.42 billion by 2033. Other estimations place the global market at USD 529.5 billion in 2024, expected to reach USD 802.6 billion by 2033.
• North America is a significant region in this market, with one source indicating it will be the second-largest market with USD 120.29 billion in 2025. In 2022, North America accounted for 20.2% of the global beauty and personal care products market.

Spectrum Brands (symbol: SPB) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Increased Brand-Focused Investments and Innovation: The company plans to continue investing in its brands, with a focus on research and development (R&D), marketing, and advertising. These investments are intended to drive long-term profitable top-line growth by enhancing brand equity and introducing new products and innovations across its categories.
2. Expansion in E-commerce Channels: Spectrum Brands has shown consistent growth in e-commerce sales across all its segments. This channel is expected to remain a significant driver of revenue, with particular strength noted in its Home & Personal Care (HPC) and Global Pet Care businesses.
3. Strategic Acquisitions and Portfolio Expansion in Pet Care: Spectrum Brands aims to at least double the size of its pet asset organically and through acquisitions. The company is actively looking to expand into niche food/treats, health and wellness, and the growing cat segment, believing it can position its portfolio more towards power-branded, faster-turning consumables.
4. Operational Improvements and Cost Efficiencies: While primarily impacting profitability, ongoing operational cost reductions, cost improvement initiatives, and favorable cost variances are expected to contribute to a stronger competitive position. These efficiencies can enable more competitive pricing or free up resources for growth-driving investments.
5. Segment-Specific Growth (e.g., Home & Garden): Specific business segments, such as Home & Garden, have demonstrated strong sales increases driven by factors like extended seasonal demand and improved retailer inventory health. Continued favorable market conditions or strategic focus in these segments are anticipated to contribute to overall revenue growth.

Share Repurchases

• Spectrum Brands has significantly reduced its outstanding shares by approximately 40%, from about 41 million to 24.9 million shares, spending $1.3 billion on repurchases since before the sale of its Hardware and Home Improvement (HHI) business in 2023.
• In fiscal year 2024, the company returned $482.7 million to shareholders through share repurchases.
• As of March 2025, the company had approximately $140 million remaining on its current board authorization for share repurchases, with management expressing interest in continuing the program.

Share Issuance

• The number of outstanding shares has consistently decreased over the last few years due to significant share repurchases, declining from 41.3 million in fiscal year 2021 to 24.9 million in November 2025.
• In May 2024, Spectrum Brands offered $300 million in exchangeable senior notes due 2029, which are initially a form of debt but could potentially be exchanged for common stock in the future.

Outbound Investments

• In 2022, Spectrum Brands completed the acquisition of the Tristar Business, an investment that subsequently faced integration challenges impacting operating performance and partner relationships.
• In 2023, the company spun off its Hardware and Home Improvement (HHI) business for $4.3 billion, utilizing the substantial proceeds to deleverage its debt and fund an aggressive share repurchase program.

Capital Expenditures

• Spectrum Brands' capital expenditures were $43.6 million in fiscal year 2021, $64 million in fiscal year 2022, $59 million in fiscal year 2023, and $44 million in fiscal year 2024.
• For the latest twelve months ending June 29, 2025, capital expenditures totaled $38.1 million.
• The company's general investment strategy for fiscal 2025 focuses on investing in brands for long-term growth, innovation to expand core and adjacent categories, and operations to improve cost, quality, and safety, including investments in e-commerce capabilities.