Rayovac (known as Ray-O-Vac until 1988) is a brand of batteries owned by Spectrum Brands of Madison, Wisconsin, United States.
Rayovac was founded by James Bowen Ramsay (1869-1952) in 1906 as the French Battery Co. in Madison, Wisconsin, with Alfred Landau as its first president. Landau was replaced by C.F. Burgess, and the company became profitable in 1910. After a fire destroyed the plant in 1915, Burgess left to found his own company. Production rose during the First World War, and by 1920 the French company had $2.74 million in sales and 600 employees, and 1000 employees in 1931. [1]
In 1930 the company name was changed to Ray-O-Vac, an allusion to the then-new technology of vacuum tubes and electron rays. In 1933 the company patented the first wearable vacuum tube hearing aid.[2] During World War II the Blake Manufacturing Division joined five other firms to form the New England Small Arms Corporation for manufacture of M1918 Browning Automatic Rifles.
During its ownership by the parent company of ESB Industrials, a British subsidiary was established to manufacture and market batteries in the United Kingdom under the Ray-O-Vac name. This operation ceased in 1972; Ray-O-Vac batteries continued to be marketed, though they were manufactured by the British Ever Ready company.
Rayovac changed its name to Spectrum Brands in 2005 after it acquired non-battery related businesses including Remington Products and United Pet Group. Rayovac also bought other battery companies including Varta, Ningbo Baowang, and Microlite S.A.. The Microlite acquision included the rights to the Rayovac name in Brazil, giving the company world wide rights to the Rayovac name.
In 2004, Rayovac successfully underbid Energizer as RadioShack's battery supplier and now produces the "Enercell" brand of battery sold exclusively at RadioShack.
Rayovac Corporation is the third leading U.S. manufacturer of alkaline storage batteries and the market leader in other battery categories such as hearing aid, computer backup, heavy duty, lantern, and keyless entry. It also manufactures flashlights and other miscellaneous items. The company has played a leadership role in the U.S. battery industry since the early 1900s. After lagging behind Gillette's Duracell, Rayovac enjoyed a rebirth in 1996 when the Thomas H. Lee Group purchased the company and changed management. The company has been publicly traded since 1997.
Rayovac is a trusted brand of Spectrum Brands Holdings, Inc., a top manufacturer of consumer batteries in the United States and Latin America. Spectrum Brands Holdings, Inc. a member of the Russell 2000 Index, is a diversified, global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading and widely trusted brands including Rayovac(R), Remington(R), Varta(R), George Foreman(R), Black & Decker(R), Toastmaster(R), Tetra(R), Marineland(R), Nature's Miracle(R), Dingo(R), 8-in-1(R), Littermaid(R), Spectracide(R), Cutter(R), Repel(R), and Hot Shot(R). Spectrum Brands Holdings' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from continuing operations in fiscal 2010.
Rayovac manufactures alkaline batteries ranging in size from AAA to 9V, the "Renewal" rechargeable alkaline series, and several types of NiMH (Nickel-Metal Hydride) batteries with recharge times as low as 15 minutes. Rayovac also makes hearing aid batteries, lithium photo batteries and specialty batteries. In addition, a variety of portable LED flashlights and lanterns are produced under the Rayovac brand.
Battery sales boomed during World War I because of huge orders from the United States and allied governments. By 1919, the company had established sales branches throughout much of the nation and as far west as Kansas City. An economic downturn in 1920 stalled growth, and wary executives shuttered the company's recently constructed New Jersey manufacturing plant. But the downturn was short-lived. Spurred by new applications for batteries, particularly the radio, demand spiraled during the 1920s and French prospered. French's line of successful batteries was expanded to include Ray-O-Vac (radio batteries), Ray-O-Lite (flashlight cells), and Ray-O-Spark (ignition batteries). Sales topped $3 million in 1923 and production facilities were expanded to meet demand for French's patented batteries. At the peak of activity in the 1920s, when unsolicited orders poured in from around the globe, the company was employing 1,300.
Explosive demand growth during the mid-1920s was driven primarily by the radio, the use of which necessitated batteries. Battery manufacturers were stunned, therefore, when Dr. Samuel Rubin invented technology that made the plug-in electric radio possible. The discovery capped French's growth spurt and even pummeled sales and profits during the late 1920s and early 1930s. Revenues plunged from $4.1 million in 1928 to just $2.1 million in 1933. The industry shakeout left only a dozen beleaguered battery manufacturers intact, one of which was French. Ramsay resigned in 1929, deciding 'to make way for a younger man.' He remained on the company's board until his death in 1952 at 83 years of age. Ramsay was succeeded by Bill Cargill, an aggressive, flamboyant general manager described by others as larger than life.
In part as a result of Cargill's sheer energy and charisma, the French Battery Company survived the Great Depression relatively unscathed. Because of the name recognition of its Ray-O-Vac battery, the company officially adopted that name in the early 1930s. Ray-O-Vac's fortunes began to turn in the middle and late 1930s, in part as a result of new innovations that boosted sales. Interestingly, in 1933, Ray-O-Vac's research team, led by the talented Art Wengel, developed the first portable radio with high fidelity reception. The radio was so small that it could be carried around in a suitcase-style box. In 1937, moreover, Ray-O-Vac patented the first wearable vacuum tube hearing aid. Despite global economic malaise, Ray-O-Vac's sales steadily surged to an impressive $5 million annually by 1936 and continued to grow to more than $8 million by 1941.
In 1939, Ray-O-Vac's Herman R.C. Anthony invented the leak-proof 'sealed in steel' dry cell battery, which played an important role during World War II, as Allied troops used the batteries to power flashlights, radios, walkie-talkies, mine detectors, signal lights, bazookas, and other gear. The company's workforce soared from about 1,500 to more than 14,000, including many women and elderly men. Ray-O-Vac's manufacturing facilities, considered war plants, were patrolled by armed military guards. In some of its plants, battery making was discontinued in favor of production of parts for military gear and weaponry. The government purchased an astounding 23 million units of just one type of leak-proof battery during the war, and Ray-O-Vac operated the largest battery plant in the world--the ten-building Signal Battery complex in Milwaukee.
Batteries were rationed to the public during the war, so the loss of government orders following the war was partially replaced by increased consumer demand. After a brief period of reorganization, the company began growing in the wake of the postwar population and economic boom. In an effort to bring some order to the sprawling organization, Cargill realigned Ray-O-Vac in 1946 into six divisions: Lighting Division; Manufacturers Battery Company, which produced radio batteries and related items; Canadian Division; Specialty Battery Division; Export Division; and Research and Development Division. Although sales and profits swelled throughout the late 1940s and into the 1950s, the reorganization eventually proved inefficient. Nevertheless, Ray-O-Vac continued to innovate and set new records. It sold more than 100 million leak-proof batteries in 1946, for example, and in 1949 Ray-O-Vac's Dr. W. Stanley Herbert introduced the breakthrough 'crown cell' alkaline battery for hearing aids. Also in 1949, the company introduced its hugely popular Sportsman flashlight.
The Pyles' strategy was based on experience gleaned from their previous work with consumer products. Judith Pyle called their tactics 'nichemanship,' meaning that every product, particularly new ones, had to incorporate features, designs, and prices focused tightly on a specifically targeted group of customers. Second, new products had to be truly innovative, as opposed to 'me-too' entries into the crowded marketplace. To that end, Rayovac introduced products like the successful Luma 2, the first flashlight with its own emergency backup system; if the batteries failed, a separate lithium-powered system could be activated. Similarly, the Loud 'n Clear hearing aid, unveiled in 1987, represented a breakthrough in hearing-aid zinc battery technology. In the late 1980s, moreover, Rayovac began using the Checkout Pack Merchandising System. That system featured shrink-wrapped battery packages that could be stacked rather than hung on conventional pegboard displays and a new gravity-fed display rack designed for use at checkout counters.
In addition to introducing new products, the Pyles also updated Rayovac's packaging and aggressively sought to recover customers who had dropped their lines. They barraged lost customers in Wisconsin, for example, with letters asking them to start selling Rayovac products again. The effort boosted market penetration in the state from 20 percent to 70 percent within a few years. Meanwhile, Rayovac shuttered some nonperforming operations and expanded through acquisition. During the 1980s, the company's acquisitions included, in 1983, certain Timex battery operations in the United Kingdom; in 1988, Raystone Corp., a manufacturer of battery cells; in 1989, Crompton Vidor, a U.K. producer of consumer batteries and flashlights; and the Tekna line of high-tech flashlights. The Pyles also initiated an aggressive quality improvement program designed to improve operations at every organizational level.
The net result of the Pyles' efforts was that Rayovac's sales rose to $270 million in 1987, reflecting growth of nearly 15 percent in 1985 and 1986. Furthermore, the company's share of the U.S. retail battery market reached 12 percent. Between 1987 and the early 1990s, Rayovac's revenues topped $450 million. Innovations in the early 1990s included: a new alkaline computer clock battery; a line of ultra-tough flashlights; a WORKHORSE fluorescent lantern; and the Renewal battery, the first reusable, long-life alkaline battery that could be used 25 times or more and was environmentally safe. Nevertheless, Rayovac realized only sluggish growth in the early 1990s, growing at a rate of only one to two percent. Rayovac signed sports megastar Michael Jordan to support the rechargeable product in a long-term endorsement contract in April 1995, a move that the company hoped would have a major impact on its market share.
Even Jordan's charisma, however, could not reverse the company's fortunes overnight. For too many years the company's competitors, Duracell and Energizer, had been more aggressive in advertising and marketing their products on a global scale. In September 1996 a Boston-based buyout firm, Thomas H. Lee Group, purchased 80 percent of Rayovac with the intent of taking the company public. Brought in to run the business and serve as chairman and chief executive was David A. Jones, who had significant management experience with Electrolux Corporation, The Regina Company, and Thermoscan, Inc.
Jones's goal was to revitalize the Rayovac brand by updating the company's marketing, advertising, and distribution strategies, as well as expanding product lines and growing through strategic acquisitions. The first major order of business, however, was to take the company public. In November 1997 Rayovac sold 6.7 million common shares of stock at $14 each, raising nearly $94 million, the net proceeds of which were earmarked to repay debt. Also in 1997 Jones introduced the first major product launch under his watch: the Maximum alkaline line of batteries. Aklaline accounted for $2.5 billion of a $4.6 billion U.S. battery market. Jones opted to position Maximum as a value-based alternative to the premium-priced Duracell and Energizer batteries, standing out from the competition by selling at ten to 15 percent less while offering the same performance. Other new products launched under Jones included keyless entry batteries and medical batteries for the home health care market. At the same time, Rayovac increased it efforts to improve its U.S. distribution. When Jones took control, Rayovac batteries were found in 36,000 stores. Within 18 months 50 major chains were added, boosting distribution by 40 percent. An additional 100,000 stores that did not carry Rayovac were identified and targeted. Jones also hired a new advertising agency, fattened the advertising budget, and launched a national campaign that utilized Michael Jordan for the entire company, not just the rechargeable line. The results would be immediate, as alkaline sales jumped dramatically.
Late in 1997 Rayovac added to its overseas presence when it acquired BRISCO GMBH in Germany and BRISCO B.V. in Holland, assemblers and distributors of hearing aid batteries in Europe. Rayovac would take an additional step to increase its world market share with the acquisition of ROV Limited, a move that allowed penetration into Mexico, Latin America, and much of South America. In 1998 Rayovac bolstered its position in the rechargeable battery market by acquiring Direct Power Plus, a New York company that offered a full line of rechargeable batteries and accessories for cellular phone and video camcorders. Early in 2001 Rayovac reinforced its image as a leading innovator in the industry when it announced a major new product launch: the first one-hour Nickel Metal Hydride battery charger for the batteries used by such high-drain devices as digital cameras.
All of the changes that Jones instituted, including ongoing cost-cutting measures, would result in 16 consecutive quarters of record sales. Sales for 2000 were $703.9 million, an increase of 25 percent over 1999's record $564.3 million; net income of $38.4 million was up 59 percent compared with $24.1 million in 1999. As the company neared its centennial, Rayovac was poised to realize an even more successful future.
Principal Subsidiaries: ROV Holding Inc.; Rayovac Europe B.V.; Rayovac (U.K.) Limited; Rayovac Latin America Ltd; Rayovac Canada Inc.
Principal Competitors: Energizer Holdings Inc.; Duracell; Ultralife Batteries Inc.
Statistics:
Public Company
Incorporated: 1906 as the French Battery Company
Employees: 3,380
Sales: $703.9 million (2000)
Stock Exchanges: New York
Ticker Symbol: ROV
NAIC: 335911 Storage Battery Manufacturing
Key Dates:
1906: French Battery Company incorporated in Wisconsin.
1930: Company changes name to Rayovac.
1939: Company introduces leak-proof dry cell battery.
1949: Company introduces stainless steel Sportsman flashlight.
1982: Thomas and Judith Pyle purchase company.
1996: Thomas H. Lee Group acquires company.
1997: Rayovac makes initial public offering of stock.
Address:
601 Rayovac Drive
Madison, Wisconsin 53711-2497
U.S.A.
Rayovac was founded by James Bowen Ramsay (1869-1952) in 1906 as the French Battery Co. in Madison, Wisconsin, with Alfred Landau as its first president. Landau was replaced by C.F. Burgess, and the company became profitable in 1910. After a fire destroyed the plant in 1915, Burgess left to found his own company. Production rose during the First World War, and by 1920 the French company had $2.74 million in sales and 600 employees, and 1000 employees in 1931. [1]
In 1930 the company name was changed to Ray-O-Vac, an allusion to the then-new technology of vacuum tubes and electron rays. In 1933 the company patented the first wearable vacuum tube hearing aid.[2] During World War II the Blake Manufacturing Division joined five other firms to form the New England Small Arms Corporation for manufacture of M1918 Browning Automatic Rifles.
During its ownership by the parent company of ESB Industrials, a British subsidiary was established to manufacture and market batteries in the United Kingdom under the Ray-O-Vac name. This operation ceased in 1972; Ray-O-Vac batteries continued to be marketed, though they were manufactured by the British Ever Ready company.
Rayovac changed its name to Spectrum Brands in 2005 after it acquired non-battery related businesses including Remington Products and United Pet Group. Rayovac also bought other battery companies including Varta, Ningbo Baowang, and Microlite S.A.. The Microlite acquision included the rights to the Rayovac name in Brazil, giving the company world wide rights to the Rayovac name.
In 2004, Rayovac successfully underbid Energizer as RadioShack's battery supplier and now produces the "Enercell" brand of battery sold exclusively at RadioShack.
Rayovac Corporation is the third leading U.S. manufacturer of alkaline storage batteries and the market leader in other battery categories such as hearing aid, computer backup, heavy duty, lantern, and keyless entry. It also manufactures flashlights and other miscellaneous items. The company has played a leadership role in the U.S. battery industry since the early 1900s. After lagging behind Gillette's Duracell, Rayovac enjoyed a rebirth in 1996 when the Thomas H. Lee Group purchased the company and changed management. The company has been publicly traded since 1997.
Rayovac is a trusted brand of Spectrum Brands Holdings, Inc., a top manufacturer of consumer batteries in the United States and Latin America. Spectrum Brands Holdings, Inc. a member of the Russell 2000 Index, is a diversified, global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading and widely trusted brands including Rayovac(R), Remington(R), Varta(R), George Foreman(R), Black & Decker(R), Toastmaster(R), Tetra(R), Marineland(R), Nature's Miracle(R), Dingo(R), 8-in-1(R), Littermaid(R), Spectracide(R), Cutter(R), Repel(R), and Hot Shot(R). Spectrum Brands Holdings' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from continuing operations in fiscal 2010.
Rayovac manufactures alkaline batteries ranging in size from AAA to 9V, the "Renewal" rechargeable alkaline series, and several types of NiMH (Nickel-Metal Hydride) batteries with recharge times as low as 15 minutes. Rayovac also makes hearing aid batteries, lithium photo batteries and specialty batteries. In addition, a variety of portable LED flashlights and lanterns are produced under the Rayovac brand.
Battery sales boomed during World War I because of huge orders from the United States and allied governments. By 1919, the company had established sales branches throughout much of the nation and as far west as Kansas City. An economic downturn in 1920 stalled growth, and wary executives shuttered the company's recently constructed New Jersey manufacturing plant. But the downturn was short-lived. Spurred by new applications for batteries, particularly the radio, demand spiraled during the 1920s and French prospered. French's line of successful batteries was expanded to include Ray-O-Vac (radio batteries), Ray-O-Lite (flashlight cells), and Ray-O-Spark (ignition batteries). Sales topped $3 million in 1923 and production facilities were expanded to meet demand for French's patented batteries. At the peak of activity in the 1920s, when unsolicited orders poured in from around the globe, the company was employing 1,300.
Explosive demand growth during the mid-1920s was driven primarily by the radio, the use of which necessitated batteries. Battery manufacturers were stunned, therefore, when Dr. Samuel Rubin invented technology that made the plug-in electric radio possible. The discovery capped French's growth spurt and even pummeled sales and profits during the late 1920s and early 1930s. Revenues plunged from $4.1 million in 1928 to just $2.1 million in 1933. The industry shakeout left only a dozen beleaguered battery manufacturers intact, one of which was French. Ramsay resigned in 1929, deciding 'to make way for a younger man.' He remained on the company's board until his death in 1952 at 83 years of age. Ramsay was succeeded by Bill Cargill, an aggressive, flamboyant general manager described by others as larger than life.
In part as a result of Cargill's sheer energy and charisma, the French Battery Company survived the Great Depression relatively unscathed. Because of the name recognition of its Ray-O-Vac battery, the company officially adopted that name in the early 1930s. Ray-O-Vac's fortunes began to turn in the middle and late 1930s, in part as a result of new innovations that boosted sales. Interestingly, in 1933, Ray-O-Vac's research team, led by the talented Art Wengel, developed the first portable radio with high fidelity reception. The radio was so small that it could be carried around in a suitcase-style box. In 1937, moreover, Ray-O-Vac patented the first wearable vacuum tube hearing aid. Despite global economic malaise, Ray-O-Vac's sales steadily surged to an impressive $5 million annually by 1936 and continued to grow to more than $8 million by 1941.
In 1939, Ray-O-Vac's Herman R.C. Anthony invented the leak-proof 'sealed in steel' dry cell battery, which played an important role during World War II, as Allied troops used the batteries to power flashlights, radios, walkie-talkies, mine detectors, signal lights, bazookas, and other gear. The company's workforce soared from about 1,500 to more than 14,000, including many women and elderly men. Ray-O-Vac's manufacturing facilities, considered war plants, were patrolled by armed military guards. In some of its plants, battery making was discontinued in favor of production of parts for military gear and weaponry. The government purchased an astounding 23 million units of just one type of leak-proof battery during the war, and Ray-O-Vac operated the largest battery plant in the world--the ten-building Signal Battery complex in Milwaukee.
Batteries were rationed to the public during the war, so the loss of government orders following the war was partially replaced by increased consumer demand. After a brief period of reorganization, the company began growing in the wake of the postwar population and economic boom. In an effort to bring some order to the sprawling organization, Cargill realigned Ray-O-Vac in 1946 into six divisions: Lighting Division; Manufacturers Battery Company, which produced radio batteries and related items; Canadian Division; Specialty Battery Division; Export Division; and Research and Development Division. Although sales and profits swelled throughout the late 1940s and into the 1950s, the reorganization eventually proved inefficient. Nevertheless, Ray-O-Vac continued to innovate and set new records. It sold more than 100 million leak-proof batteries in 1946, for example, and in 1949 Ray-O-Vac's Dr. W. Stanley Herbert introduced the breakthrough 'crown cell' alkaline battery for hearing aids. Also in 1949, the company introduced its hugely popular Sportsman flashlight.
The Pyles' strategy was based on experience gleaned from their previous work with consumer products. Judith Pyle called their tactics 'nichemanship,' meaning that every product, particularly new ones, had to incorporate features, designs, and prices focused tightly on a specifically targeted group of customers. Second, new products had to be truly innovative, as opposed to 'me-too' entries into the crowded marketplace. To that end, Rayovac introduced products like the successful Luma 2, the first flashlight with its own emergency backup system; if the batteries failed, a separate lithium-powered system could be activated. Similarly, the Loud 'n Clear hearing aid, unveiled in 1987, represented a breakthrough in hearing-aid zinc battery technology. In the late 1980s, moreover, Rayovac began using the Checkout Pack Merchandising System. That system featured shrink-wrapped battery packages that could be stacked rather than hung on conventional pegboard displays and a new gravity-fed display rack designed for use at checkout counters.
In addition to introducing new products, the Pyles also updated Rayovac's packaging and aggressively sought to recover customers who had dropped their lines. They barraged lost customers in Wisconsin, for example, with letters asking them to start selling Rayovac products again. The effort boosted market penetration in the state from 20 percent to 70 percent within a few years. Meanwhile, Rayovac shuttered some nonperforming operations and expanded through acquisition. During the 1980s, the company's acquisitions included, in 1983, certain Timex battery operations in the United Kingdom; in 1988, Raystone Corp., a manufacturer of battery cells; in 1989, Crompton Vidor, a U.K. producer of consumer batteries and flashlights; and the Tekna line of high-tech flashlights. The Pyles also initiated an aggressive quality improvement program designed to improve operations at every organizational level.
The net result of the Pyles' efforts was that Rayovac's sales rose to $270 million in 1987, reflecting growth of nearly 15 percent in 1985 and 1986. Furthermore, the company's share of the U.S. retail battery market reached 12 percent. Between 1987 and the early 1990s, Rayovac's revenues topped $450 million. Innovations in the early 1990s included: a new alkaline computer clock battery; a line of ultra-tough flashlights; a WORKHORSE fluorescent lantern; and the Renewal battery, the first reusable, long-life alkaline battery that could be used 25 times or more and was environmentally safe. Nevertheless, Rayovac realized only sluggish growth in the early 1990s, growing at a rate of only one to two percent. Rayovac signed sports megastar Michael Jordan to support the rechargeable product in a long-term endorsement contract in April 1995, a move that the company hoped would have a major impact on its market share.
Even Jordan's charisma, however, could not reverse the company's fortunes overnight. For too many years the company's competitors, Duracell and Energizer, had been more aggressive in advertising and marketing their products on a global scale. In September 1996 a Boston-based buyout firm, Thomas H. Lee Group, purchased 80 percent of Rayovac with the intent of taking the company public. Brought in to run the business and serve as chairman and chief executive was David A. Jones, who had significant management experience with Electrolux Corporation, The Regina Company, and Thermoscan, Inc.
Jones's goal was to revitalize the Rayovac brand by updating the company's marketing, advertising, and distribution strategies, as well as expanding product lines and growing through strategic acquisitions. The first major order of business, however, was to take the company public. In November 1997 Rayovac sold 6.7 million common shares of stock at $14 each, raising nearly $94 million, the net proceeds of which were earmarked to repay debt. Also in 1997 Jones introduced the first major product launch under his watch: the Maximum alkaline line of batteries. Aklaline accounted for $2.5 billion of a $4.6 billion U.S. battery market. Jones opted to position Maximum as a value-based alternative to the premium-priced Duracell and Energizer batteries, standing out from the competition by selling at ten to 15 percent less while offering the same performance. Other new products launched under Jones included keyless entry batteries and medical batteries for the home health care market. At the same time, Rayovac increased it efforts to improve its U.S. distribution. When Jones took control, Rayovac batteries were found in 36,000 stores. Within 18 months 50 major chains were added, boosting distribution by 40 percent. An additional 100,000 stores that did not carry Rayovac were identified and targeted. Jones also hired a new advertising agency, fattened the advertising budget, and launched a national campaign that utilized Michael Jordan for the entire company, not just the rechargeable line. The results would be immediate, as alkaline sales jumped dramatically.
Late in 1997 Rayovac added to its overseas presence when it acquired BRISCO GMBH in Germany and BRISCO B.V. in Holland, assemblers and distributors of hearing aid batteries in Europe. Rayovac would take an additional step to increase its world market share with the acquisition of ROV Limited, a move that allowed penetration into Mexico, Latin America, and much of South America. In 1998 Rayovac bolstered its position in the rechargeable battery market by acquiring Direct Power Plus, a New York company that offered a full line of rechargeable batteries and accessories for cellular phone and video camcorders. Early in 2001 Rayovac reinforced its image as a leading innovator in the industry when it announced a major new product launch: the first one-hour Nickel Metal Hydride battery charger for the batteries used by such high-drain devices as digital cameras.
All of the changes that Jones instituted, including ongoing cost-cutting measures, would result in 16 consecutive quarters of record sales. Sales for 2000 were $703.9 million, an increase of 25 percent over 1999's record $564.3 million; net income of $38.4 million was up 59 percent compared with $24.1 million in 1999. As the company neared its centennial, Rayovac was poised to realize an even more successful future.
Principal Subsidiaries: ROV Holding Inc.; Rayovac Europe B.V.; Rayovac (U.K.) Limited; Rayovac Latin America Ltd; Rayovac Canada Inc.
Principal Competitors: Energizer Holdings Inc.; Duracell; Ultralife Batteries Inc.
Statistics:
Public Company
Incorporated: 1906 as the French Battery Company
Employees: 3,380
Sales: $703.9 million (2000)
Stock Exchanges: New York
Ticker Symbol: ROV
NAIC: 335911 Storage Battery Manufacturing
Key Dates:
1906: French Battery Company incorporated in Wisconsin.
1930: Company changes name to Rayovac.
1939: Company introduces leak-proof dry cell battery.
1949: Company introduces stainless steel Sportsman flashlight.
1982: Thomas and Judith Pyle purchase company.
1996: Thomas H. Lee Group acquires company.
1997: Rayovac makes initial public offering of stock.
Address:
601 Rayovac Drive
Madison, Wisconsin 53711-2497
U.S.A.