Energizer paying $2 billion to expand battery empire

The Energizer Bunny at a fashion show.
Photo by Thomas Concordia / Getty Images

Energizer Holdings has agreed to acquire the global battery and portable lighting business of Spectrum Brands for $2 billion in cash. Acquired brands would include Rayovac and Varta.

Why it matters: Because this would leave just two major battery makers: Energizer and Duracell.