Spectrum Brands Holdings Inc. (NYSE: SPB), a global and diversified consumer products company with market-leading brands, has announced that it signed a definitive merger agreement to acquire Armored AutoGroup Parent Inc. (“Armored AutoGroup”) from Avista Capital Partners for $1.4 billion in cash and assumed debt.

Armored AutoGroup is a consumer products company consisting primarily of the renowned Armor All® and STP® brands, two of the most recognizable brands in the automotive aftermarket appearance products and performance chemicals/additives categories, and the market-leading A/C PRO® brand in the do-it-yourself automotive air conditioner recharge category.

The transaction has been unanimously approved by the board of directors of Spectrum Brands and approved by the board and by shareholders of Armored AutoGroup, and is expected to close before the end of Spectrum Brands’ fiscal third quarter on June 30, 2015, subject to receipt of applicable regulatory approvals and customary closing conditions.

Following the closing of the transaction, Armored AutoGroup is expected to operate as a separate division within Spectrum Brands, reporting to CEO Andreas Rouvé.