LAWN AND GARDEN COMPANY LEADER WINS CONSUMER PRODUCTS CATEGORY IN ERNST & YOUNG COMPETITION
ST. LOUIS - Bob Caulk, Chairman and CEO of United Industries Corporation, which does business as Spectrum Brands, has been named Ernst & Young's 2004 Missouri-Kansas region Entrepreneur of the Year in the Consumer Products category. The award recognizes the transformational leadership skills demonstrated by Caulk, as he has quadrupled Spectrum Brands' top line sales over four years, and comes within a week of the announcement of United Industries' acquisition of United Pet Group (UPG), the most recent of five acquisitions initiated by United Industries in the past three years.
Under Caulk's leadership, United Industries has grown from a $250 million dollar company in 1998 to a company that, at the end of fiscal year 2004, will have projected annual sales of approximately $1 billion. United Industries is one of the two leading manufacturers and marketers of lawn and garden consumer products in North America. With the anticipated closing of the UPG transaction, United Industries will also become a leading player in the large and rapidly expanding consumer pet supply category.
"I'm proud to accept this award, and I am excited about the prospects of competing at a national level," said Caulk. "This award reinforces what we have been able to accomplish as a company. I know that all of the associates at Spectrum Brands share a part in this award because it is truly recognition of their dedication, loyalty and innovation."
Caulk's name will now be placed in nomination for the title of National Entrepreneur of the Year. The national awards are presented at the 18th Annual Ernst & Young Entrepreneur of Year Banquet to be held November 18-21 at J.W. Marriott's Desert Springs Resort & Spa in Palm Springs, CA. The 2004 National Entrepreneur of the Year winner will join Entrepreneur of The Year winners from around the world next May in Monte Carlo for the annual World Entrepreneur of The Year awards.
About United Industries Corporation
United Industries Corporation, which goes to market as Spectrum Brands (www.spectrumbrands.com), is the leading manufacturer and marketer of value-oriented products for the consumer lawn and garden care and insect control segments in the U.S. The company's household brands include Hot Shot®, Cutter® and Repel®. The company's lawn and garden brands include Spectracide®, Garden Safe®and Real-Kill® in the controls category as well as Sta-Green®, Vigoro®, SchultzT, Peters®, Bandini® and Best® brands in the lawn and garden fertilizer and organic growing media categories. Through its Canadian subsidiary, Nu-Gro, the company manufactures and markets category-leading brands such as Wilson®, CIL®, Golf-Green®, and Green Earth®. The company is also a leading global supplier of slow release nitrogen and other fertilizer technologies under brand names such as Nitroform® and Nutralene®. Founded in 1969, the company is headquartered in St. Louis, Missouri. (Bloomberg Symbol: 14496Z)
Certain statements in this press release regarding our business, with the exception of historical facts, may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21G of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties, many of which are beyond our control. When, and if, used herein, the words "will," "should," "believe," "plan," "may," "strategies," "goals," "anticipate," "indicate," "intend," "determine," "estimate," "expect," "project," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. All forward-looking statements apply only as of the date they are disclosed and are based on the company's expectations at that time. Actual results could differ materially from these statements as a result of weather conditions, our retailer line item reviews, the loss of customers or product listings, changes in external competitive market factors, unanticipated changes in the financial performance of us, our customers, our industry or the economy in general, public perception regarding the safety of our products, our ability to successfully integrate acquired businesses, as well as various other factors described in our filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to update or revise publicly any forward-looking statements made by us or on our behalf, whether as a result of new information, future events or otherwise. Although we believe that our plans, intentions and expectations reflected in or suggested by any forward-looking statements we make herein are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved.
Media Contact:
Kent J. Davies
United Industries Corpotation
314-427-0780
ir@spectrumbrands.com