Spectrum Brands Holdings, Inc. filed a Form 8-K with the SEC on November 4, 2026, disclosing that Empower Brands Holdings Group, LLC, the Home and Personal Care business jointly owned by Spectrum Brands and funds managed by Oaktree Capital Management, L.P., delivered a non-binding proposal to acquire all of the outstanding common equity of Helen of Troy Limited.

Key Highlights

  • Non-binding proposal delivered: Empower Brands submitted its acquisition proposal directly to the Board of Directors of Helen of Troy Limited on November 4, 2026.
  • Joint ownership structure: Empower Brands is jointly owned by Spectrum Brands Holdings, Inc. and funds managed by Oaktree Capital Management, L.P.
  • Scope of proposed acquisition: The proposal covers all of the outstanding common equity of Helen of Troy, according to the filing.
  • No transaction terms disclosed: The filing does not state a purchase price, share count, or any other financial terms of the proposal.
  • Financing risk noted: The filing flags "the risk that the Company and Empower Brands may be unable to obtain the third-party debt financing to fund a transaction on acceptable terms or at all."
  • Registrant details: Spectrum Brands Holdings, Inc. is incorporated in Delaware, headquartered at 3001 Deming Way, Middleton, Wisconsin 53562, and its common stock trades on the NYSE:SPB.

Spectrum Brands and Oaktree Joint Venture Pursues Helen of Troy

According to the Form 8-K filed on November 4, 2026, Empower Brands Holdings Group, LLC confirmed that it delivered to the Helen of Troy Board of Directors a non-binding proposal to acquire all of the outstanding common equity of that company. Empower Brands is described in the filing as the Home and Personal Care business jointly owned by Spectrum Brands Holdings, Inc. and funds managed by Oaktree Capital Management, L.P. The filing does not disclose any financial terms, proposed consideration, or timeline associated with the proposal.

The 8-K was filed under Item 8.01 (Other Events) and checked the box indicating it constitutes soliciting material pursuant to Rule 14a-12 under the Securities Exchange Act. The company noted that, subject to future developments, it may file proxy statements, tender offer statements, or other documents with the SEC in connection with the proposed transaction. The filing also states that neither Spectrum Brands nor Empower Brands has had access to the books and records of Helen of Troy, and that any information about Helen of Troy in the document was drawn from publicly available sources.

The filing enumerates several risk factors specific to the proposed transaction, including the possibility that a deal may not be completed, that transaction costs could exceed expectations, that anticipated synergies may not be realized, and that any announcements relating to the transaction "could have adverse effects on the market price of the Company's common shares." The company directed investors to Part I, Item 1A of its Annual Report on Form 10-K for the fiscal year ended September 30, 2025 for additional risk factors affecting its business. The filing characterizes all statements about the company's expectations regarding a potential transaction with Helen of Troy as forward-looking statements subject to its cautionary language.

What Was Disclosed

Spectrum Brands Holdings, Inc. reported via Form 8-K that its jointly owned Home and Personal Care unit, Empower Brands Holdings Group, LLC, delivered a non-binding proposal on November 4, 2026 to acquire all outstanding common equity of Helen of Troy Limited. No financial terms were disclosed.