EL PASO, November 10, 2026 — Helen of Troy Limited, the parent company of Hydro Flask and Osprey, has rejected an unsolicited purchase offer from Empower Brands Holdings Group, citing the offer as “substantially undervaluing” the company. The all-cash offer, valued at about $866 million, was made by Empower Brands, owned by Spectrum Brands Holdings Inc., and represented a 28% premium to Helen of Troy’s closing stock price on Oct. 30.
Background And History
Helen of Troy Limited is a conglomerate that owns several well-known brands, including Hydro Flask, Osprey, and OXO. The company has been working to implement a new three-phase plan under the leadership of CEO G. Scott Uzzell, who was named to the position less than a year ago. This plan has already shown positive results, with the company reporting a 2.1% year-over-year gain in net sales for the quarter ending Aug. 31, and a 4.9% increase in year-to-date net sales.
The Offer And Response
Empower Brands initially offered $34 per share on Aug. 19, which was rejected by Helen of Troy on Sept. 3. The offer was later increased to $37 per share on Oct. 12, but was again deemed inadequate by Helen of Troy management. Spectrum Brands CEO David Maura stated that Helen of Troy has attempted to halt the process by requiring Empower Brands to enter into an overly restrictive agreement, rather than engaging in constructive dialogue. Maura expressed willingness to enter into a constructive dialogue that could potentially support an improved proposal and lead to a friendly transaction.
What This Means For The Company
The rejection of the offer by Helen of Troy’s board signals the company’s confidence in its new three-phase plan and its potential for growth. The plan includes stabilizing performance, investing in high-potential opportunities, and expanding into attractive adjacencies. With the company’s stock having fallen 87% over five years as of Oct. 30, and recording impairment charges of $886 million in fiscal 2026, the offer was seen as an opportunistic move by Empower Brands. The future of Helen of Troy and its brands, including Hydro Flask and Osprey, will depend on the success of this new plan and the company’s ability to demonstrate its value to shareholders.
Future Outlook
As Helen of Troy moves forward with its new plan, the company will focus on driving sales growth and increasing shareholder value. The rejection of the offer from Empower Brands suggests that the company is committed to its current strategy and is not looking to sell. With a new leadership team in place and a focus on high-potential opportunities, Helen of Troy is positioned for potential growth and expansion. As Spectrum Brands CEO David Maura said, “We remain willing to enter into a constructive dialogue that could potentially support an improved proposal and lead to consummating a friendly transaction.” The company’s next steps will be closely watched by investors and industry analysts, with the fiscal year 2027 outlook raised and year-to-date net sales up 4.9%.
Sources
- Hydro Flask
- Best Amazon deal: Get the Hydro Flask water bottle for just $25
- Osprey and Hydro Flask parent declines purchase offer
- Spectrum Brands proposes to buy Helen of Troy for $37 a share
Photo: Alec Voss (CC BY-SA 4.0)
