Spectrum Brands Gains Listing on Russell 3000
Posted on June 28, 2010 by
MADISON, Wis.-Spectrum Brands Holdings, parent company of the Remington personal-care brand and recently merged with Russell Hobbs, has been added to the Russell 3000 Index.
The index tracks the performance of 3,000 publicly held U.S. companies based on total market capitalization, a group that represents about 98 percent of the investable U.S. equity market, according to a Spectrum statement. In addition, membership in this listing means automatic inclusion for Spectrum in the small-cap Russell 2000 index, as well as the appropriate growth and value-style indexes. The statement said Russell Investments, provider of these indexes, determines membership for its equity indexes primarily by objective market-capitalization rankings and style attributes.
Dave Lumley, Spectrum's chief executive officer, said the company's inclusion on these indexes, along with the closing of the Russell Hobbs transaction, "is yet another example of the positive momentum we're experiencing."
The merger with Russell Hobbs, formerly known as Salton Inc., was closed earlier this month and added small-appliance brands George Foreman, Black & Decker Home, Toastmaster and others to the Spectrum brand portfolio.