Spectrum Brands, Inc and private equity firm CVC Capital Partners are in advanced talks to acquire hair-dryer maker Conair Corporation, according to people with knowledge of the matter.
The deal could value Conair at about $2 billion, the people said, asking not to be identified because the information is private. The suitors aim to reach an agreement within weeks, though negotiations could still fall apart, the people said.
Any transaction will add to the $8.3 billion of deals involving appliance makers announced over the past 12 months. Royal Philips is also selling its home appliance arm, which makes everything from coffee makers to air purifiers. CVC was among several large buyout firms that initially expressed interest in the Philips unit, but the Dutch company shortlisted a clutch of Asian suitors.