Salton to acquire United Pet Group from Spectrum Brands for $692.5 million.

Salton, Inc. has agreed to acquire United Pet Group from Spectrum Brands for approximately $692.5 million in cash, plus additional consideration in the form of Spectrum's Variable Rate Toggle Senior Subordinated Notes due 2013 and Senior Subordinated Notes due 2015. The acquisition establishes Salton as a preeminent global supplier of small household appliances and pet supplies, building on the successful integration of Salton and Applica.