<SEC-DOCUMENT>0000950142-24-001386.txt : 20241120
<SEC-HEADER>0000950142-24-001386.hdr.sgml : 20241120
<ACCEPTANCE-DATETIME>20240520163635
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ACCESSION NUMBER:		0000950142-24-001386
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Spectrum Brands Holdings, Inc.
		CENTRAL INDEX KEY:			0000109177
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				741339132
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		3001 DEMING WAY
		CITY:			MIDDLETON
		STATE:			WI
		ZIP:			53562
		BUSINESS PHONE:		608-275-3340

	MAIL ADDRESS:	
		STREET 1:		3001 DEMING WAY
		CITY:			MIDDLETON
		STATE:			WI
		ZIP:			53562

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HRG GROUP, INC.
		DATE OF NAME CHANGE:	20150311

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HARBINGER GROUP INC.
		DATE OF NAME CHANGE:	20091224

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA CORP
		DATE OF NAME CHANGE:	19920703
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    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">3001 Deming Way</P>
    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">Middleton, WI 53562-1431</P>
    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">P.O. Box 620992</P>
    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">Middleton, WI 53562-0992</P>
    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">(608) 275-3340</P>
    <P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid; width: 50%"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 36px; width: 222px">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">May 20, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Dale Welcome</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 6%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">RE:</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Spectrum Brands Holdings, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form 10-K for the Fiscal Year Ended September 30, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed November 21, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">File No. 001-04219</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Mr. Welcome:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Set forth below is the response of Spectrum
Brands Holdings, Inc. (the &ldquo;Company&rdquo;) to the comments raised by the staff (the &ldquo;Staff&rdquo;) of the Securities and
Exchange Commission (the &ldquo;Commission&rdquo;) in a letter to the Company dated April 22, 2024 (the &ldquo;Comment Letter&rdquo;).
For your convenience, the text of the comments in the Comment Letter has been duplicated in bold type to precede the Company&rsquo;s responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B><U>Form 10-K for Fiscal Year Ended September
30, 2023</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B><U>Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations Non-GAAP Measurements, page 34</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for the HPC brand portfolio transitions. We note from your response that the compensation costs for retained personnel appear to relate
to your historical operations as they were incurred to facilitate a transition of an entire portfolio of branded products away from an
expiring licensed brand to a newly acquired brand portfolio. As such, these costs do not appear to be outside of the company&rsquo;s normal
operations and excluding them from your non-GAAP measure would not be consistent with the guidance in Question 100.01 of the Division
of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures. Please provide us with a detailed description
of these costs, including a clear understanding of the unprecedented facts and circumstances to which you refer in your response. Explain
to us clearly why you believe the adjustments comply with the stated guidance.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023, related to the costs characterized as Home and Personal Care (&ldquo;HPC&rdquo;) brand portfolio transitions.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">For further clarity and with regards
to the unprecedented facts and circumstances being faced by the Company and its HPC segment, our HPC segment has a significant concentration
of revenue from global product sales associated with the licensed tradename, Black+Decker&reg; (&ldquo;B+D&rdquo;), which we do not directly
own but rather license from a third party, Stanley Black &amp; Decker (&ldquo;SBD&rdquo;), subject to a license agreement that was periodically
renewed and maintained during a long-term relationship with the licensor, further discussed and disclosed in our Form 10-K. Additionally,
effective December 2021, we had entered into an amendment to the license agreement which provided for another extension to the pre-existing
amendment but also provided an end date of June 30, 2025, and a sell-off period from April 1, 2025, to June 30, 2025, whereby the Company
and its HPC segment could continue to sell and distribute but no longer produce products subject to the license agreement. Due to the
high level of concentration in revenues associated with the B+D tradename for the Company and its HPC segment, there was a significant
shift in strategy required for the utilization of our brands resulting in an unanticipated and unusual shift towards brand development
and acquisition to transition away from use of the B+D tradename both during and before the sell-off period would be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">On February 3, 2022, the Company and
its HPC segment acquired the Tristar Business consisting of the home appliances and cookware categories of Tristar Products, Inc. with
intention to leverage the portfolio of acquired brands, legacy brands, and combined distribution channels and resources to facilitate
a transition away from the complete use of the B+D tradename altogether. During the projected transition period we planned costs to transition
the existing B+D product portfolio to new brands or tradenames that were substantially above our normal recurring costs and investment
and beyond pre-existing brand support and product development in the normal course of business. As previously noted in our response to
prior comment 2 in our response letter dated March 29, 2024, the costs recognized and adjusted for were associated with personnel costs
that had previously been incorporated as part of the continuing operations of the Company and its HPC business but were subject to a restructuring
initiative. The Company had also engaged in a restructuring initiative that resulted in headcount reductions but withheld certain actions
to retain personnel that were then specifically assigned to the transition project and were no longer supporting the current operations
of the Company and its HPC segment. If the brand transition initiative was not necessary, these same personnel would have been subject
to the restructuring initiative and their related personnel costs during the transition period would not have been incurred. As such,
the Company did not view these retained costs as supporting the recurring ongoing operations of the Company and its HPC segment, but the
temporary costs to execute the needed transition and were expected to not be absorbed by the Company upon completion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">In evaluating the consideration of
the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations on Non-GAAP
Financial Measures, the Company considered the non-recurring and unusual nature of the B+D license agreement, the Tristar Business acquisition
and the sizeable investment necessary to transition away from B+D tradename as an operating expense that would not occur repeatedly or
occasionally due to its size and the irregular significant concentration of costs versus the nature of the operating expense being incurred.
The Company further notes that the scope and nature of the project was ultimately resolved before the year ended September 30, 2023 and
all previous actions and consideration towards restructuring were further executed to avoid the Company from absorbing the compensation
costs that were previously aligned with the project. Subsequently, there are not incremental costs being recognized and therefore no further
adjustments in subsequent periods, plus the Company does not anticipate incurring any similar project costs or initiatives in the foreseeable
future.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for other project costs. Although you indicate in your response that your other projects costs relate to discrete events and projects,
it appears that you have similar events and projects in multiple periods. As such, these costs do not appear to be outside of the company&rsquo;s
normal operations and excluding them from your non-GAAP measure is not consistent with the guidance in Question 100.01 of the Division
of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures. Please provide us with a detailed description
of these costs and explain to us clearly why you believe the adjustments comply with the stated guidance.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0pt 10pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023. In consideration for your request for more detailed description of the costs, the following is a summary of the costs and adjustments
reported for the year ended September 30, 2023, with further description below.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt TimesNewRoman; margin-left: 0.25in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">(in millions)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; font-weight: bold; vertical-align: top">2023</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 70%; text-align: left">Strategic Plan Development</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">6.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">HPC Business Transformation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Business Development Office</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">GPC Australia/New Zealand Market Exit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Global Productivity Improvement Initiative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">IPL Product Category Exit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Direct to Consumer Strategic Consulting</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">HPC China Market Exit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Total other project costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Strategic Plan Development:</I> During the year ended September 30, 2023,
the Company engaged with a third-party consulting partner to assist in the development of a long-term strategic plan in consideration
of the significant divestiture transactions that the Company had executed or was in process of executing, consisting of the recent separation
of the Company&rsquo;s Hardware and Home Improvement (&ldquo;HHI&rdquo;) segment and the continuing efforts to separate its HPC segment,
with focus on the strategic growth strategies of its Global Pet Care (&ldquo;GPC&rdquo;) and Home &amp; Garden (&ldquo;H&amp;G&rdquo;)
segments and roadmap following the completion of strategic transactions and effectively reducing the size of the Company to half its previous
size and substantially altering the strategic direction and initiatives. The Company had not previously incurred such costs or investment
given the relative size and shift in the strategic business objectives being irregular due to the substantive change to the organization
being impacted by the divestitures and would not anticipate or expect to incur similar costs in the foreseeable future. In evaluating
the consideration of the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations
on Non-GAAP Financial Measures, the Company considered the costs in consideration of the significant divestitures and overall impact to
the Company&rsquo;s design and strategy as an operating expense that would not occur repeatedly or occasionally due to its size and circumstances,
and asserts that the nature of the costs incurred are appropriate and reflective of non-recurring cost in accordance with the guidance
set forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure on Non-GAAP Financial Measures. </FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>HPC Business Transformation: </I>During the year ended September 30,
2023, the Company and its HPC segment initiated a strategic business transformation initiative within the segment which resulted in the
recognition of severance and retention benefit compensation that was provided following the separation of key executives within the HPC
segment along with transportation costs to consolidate inventory within distribution centers and decrease footprint. Further, the strategic
initiative was necessary to shift the direction of the HPC business following the Tristar Business acquisition in February 2022 and the
negative impact to the Company and its HPC segment. In consideration of the guidance set forth in Question 100.01 of the Division of Corporate
Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures, we considered this adjustment to be appropriate due
to the incremental termination and retention costs to complete the transition, impact relative to the Tristar Business acquisition and
is reflective of a non-recurring event that is not a normal, operating expense of the Company. Prospectively, the costs attributable to
the project are not recurring or recognized in subsequent periods and would not anticipate or expect to incur similar costs in the foreseeable
future.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Business Development Office: </I>The Company had previously recognized
costs associated with business development activities, diligence, and transformation initiatives, used in supporting strategic transaction
development and primarily consisting of personnel costs as an adjustment to its non-GAAP performance metric, Adjusted EBITDA. No further
disclosure or definition had been recognized due to the lack of materiality to the total consolidated Adjusted EBITDA. Prospectively,
the Company has discontinued the adjustment and such costs have been included within Adjusted EBITDA and will no longer be considered
a non-GAAP adjustment. The Company considered but concluded not to make an adjustment to historical Adjusted EBITDA presentation as there
was no material comparability issue between periods and a portion of costs in the prior year are not recurring in subsequent periods due
to restructuring initiatives that were taken in the prior year.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>GPC Australia/New Zealand Market Exit: </I>During the year ended September
30, 2023, the Company and its GPC segment elected to exit distribution from an Australian distribution center and transfer all commercial
operations within the Australia and New Zealand territories to a third-party distributor resulting in the recognition of severance costs
associated with the exit. In consideration of the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures, we considered these costs to be an appropriate adjustment within the
guidance as the recognition of such costs was triggered by the Company&rsquo;s decision to exit its GPC commercial operations in a specific
territory resulting in the occurrence of extraneous termination costs outside normal operations, not related to the continuing costs of
the Company&rsquo;s operations or revenue generating activities, but attributable to a non-recurring event. Prospectively, the costs attributable
to the project are not recurring or recognized in subsequent periods and the Company does not anticipate future costs or strategic changes
to be incurred.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Global Productivity Improvement Initiative:</I> In previously reported
periods, the Company initiated a global project consisting of restructuring related initiatives resulting in the termination and exit
of production facilities, organizational restructuring, severance benefits and other exit and disposal activities. During the year ended
September 30, 2023, there were incremental costs realized from the closing of certain legal entities associated with previous acquisitions,
including remaining costs to facilitate the closing of a production facility and operating entity in LATAM as part of the project, originally
initiated in a prior year. In consideration of the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretation on Non-GAAP Financial Measure, we considered this adjustment appropriate due to the fact that the incremental
closing costs incurred are not considered to be a normal operating expense of the Company and associated with a previously closed facility
and legal entity. Prospectively, the costs attributable to the project are not recurring or recognized in subsequent periods and the Company
does not anticipate future costs in the foreseeable future.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>IPL Product Category Exit: </I>The Company and its HPC segment elected
to exit the intense pulse light (&ldquo;IPL&rdquo;) product category as part of a strategic transformation for the HPC business, requiring
the recognition of incremental costs to be incurred towards compensation with its vendors it had partnered with in the development and
production of such products with the product category. In consideration of the guidance set forth in Question 100.01 of the Division of
Corporate Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures, we considered these costs to be an appropriate
adjustment within the guidance as the recognition of such costs was triggered by the Company&rsquo;s decision to completely exit a product
category resulting in the occurrence of extraneous costs outside normal operations, not related to the continuing costs of the Company&rsquo;s
operations or revenue generating activities, but attributable to a non-recurring event as the Company does not regularly exit of its participation
within an active product category when executing operational objectives, with the Company or the HPC segment not having exited a product
category in recent history. Prospectively, the costs attributable to the project are not recurring or recognized in subsequent periods
and the Company does not anticipate future costs or similar changes or exits to product categories to be realized in the foreseeable future.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Direct to Consumer Strategic Consulting: </I>Following the acquisition
of the Tristar Business during the year ended September 30, 2022, the Company engaged with the former owner of the Tristar Business to
support the integration and development of the direct-to-consumer operations within the Company. In consideration of the guidance set
forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures,
we considered these costs reflected within the adjustment are non-recurring and incremental in consideration of the incremental costs
towards the integration of the acquired business into the existing operation of the Company and its HPC segment and similar to a transition
service agreement from the predecessor owner of the acquired business that would not be recurring in subsequent periods and would be further
leveraged by in house operations, processes and systems following the integration of the business, and do not support revenue generating
activities, operations or strategy of the business. Prospectively, the costs attributable to the project are not recurring or recognized
in subsequent periods. </FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>HPC China Market Exit: </I>During the year ended September 30, 2023,
the Company and its HPC segment elected to exit its commercial operations in China including all distribution operations within the country
as part of a strategic transformation of the HPC business, resulting in the recognition of severance costs associated with the exit. In
consideration of the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations
on Non-GAAP Financial Measures, we considered these costs to be an appropriate adjustment within the guidance as the recognition of such
termination costs was triggered by the Company&rsquo;s decision to exit its HPC commercial operations in a specific territory resulting
in the occurrence of extraneous costs outside normal operations, not related to the continuing costs of the Company&rsquo;s operations
or revenue generating activities, but attributable to a non-recurring event. Prospectively, the costs attributable to the project are
not recurring or recognized in subsequent periods.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for unallocated shared costs. You indicate that the adjustments reflect the indirect costs incurred to support the HHI segment at the
time it was directly owned and operated by the company prior to its disposition, and that under U.S. GAAP, only direct costs associated
with the disposed business can be accounted for as discontinued operations. Please explain to us in greater detail why these unallocated
shared costs would not represent normal, recurring, cash operating expenses necessary to operate your business, and why adjusting for
such costs in your non-GAAP measures would not be inconsistent with the guidance in Question 100.01 of the Division of Corporation Finance
Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">Effective September 2021, the HHI business
was initially held for sale and recognized as discontinued operations when we entered into a purchase agreement with ASSA Abloy for the
purchase of the segment, which triggered the required reporting of the HHI segment as a discontinued operation for both the current period
and all previously reported periods. As part of the presentation change and recasting of prior periods, the indirect shared costs incurred
to support the HHI operations and allocated to our HHI segment were required to be reported as a component of continuing operations in
accordance with U.S. GAAP for all periods presented, up through the closing of the sale of the HHI segment on June 20, 2023. Due to the
recasting of our HHI segment as a discontinued operation for all periods presented, we also recasted our reported Adjusted EBITDA to reconcile
to Net income (loss) from continuing operations (i.e. excluding of the HHI segment which is presented as a discontinued operations).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">For the period of September 2021 up
through the closing of the sale in June 2023, the Company continued to own and operate the HHI business and continued to incur shared
costs to support those operations. As such these costs are not considered stranded costs as these were operating costs of the HHI business
during the period of ownership, historically reflected within the operating results of the HHI business which is no longer a component
of the Adjusted EBITDA from continuing operations for the Company. The adjustment reflects the normal operating expenses of the HHI segment
but are excluded from the normal operating expense of the Company when excluding the HHI segment, as it is being reported as discontinued
operations during the period that is operated and owned by the Company. As a result, we would not consider the costs to be a normal recurring,
cash operating expense to operate the continuing operations of the business when excluding the discontinued operations of the HHI segment
in our Adjusted EBITDA for the continuing operations of the consolidated group.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">After the closing of the sale in June
2023, the shared cost allocated to HHI continue to be incurred but are not considered stranded costs as there is income from Transaction
Service Agreements (&ldquo;TSA&rdquo;) being realized and offsetting the costs. As the HHI business is no longer legally owned or operated
by the Company and the costs are offset within the consolidated financial results for the Company, the adjustment is no longer being reflected
or required within our Adjusted EBITDA reconciliations for subsequent periods. For all periods subsequent to the completion of the sale
on June 20, 2023, there is no adjustment required or included in our reconciliation of Net Income from Continuing Operations to Adjusted
EBITDA as the HHI segment is no longer owned and operated by the Company, and the costs are mitigated through TSAs with the buyer of the
HHI segment consistent to our discussions on adjustments made to Adjusted EBITDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">During the period subsequent to the
sale, during the TSA period, The Company has taken actions to rightsize its shared operations and enabling function costs as the Company
and the divested HHI business exit the TSA agreements during the transition period which will occur at various exit dates from 12 to 24
months. During such time, no adjustments to Adjusted EIBTDA will be reflected for stranded costs or excess overhead costs attributable
to such post-TSA exits.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for legal and environmental costs. Please describe to us in detail the events and circumstances that led to the legal and environmental
costs reflected in the adjustments. Specifically explain how you concluded that these were significant and unusual non-recurring matters
that have no previous historical context or precedent with your operations, revenue generating activities, business strategy, industry,
and regulatory environment. Explain to us in sufficient detail why adjusting for these costs is consistent with the guidance in Question
100.01 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023. During the year ended September 30, 2023, there were two distinct events that were recognized as legal and environmental costs:
(1) the Company and its HPC segment were included in anti-trust matters brought forth by the anti-trust authorities in our EMEA region
resulting in additional costs of approximately $1.1 million to facilitate and settle the matter with the applicable authorities, and (2)
legal costs of approximately $2.0 million incurred to support litigation actions to pursue insurance recoveries under our representation
and warranty policies associated with the Tristar Business acquisition which closed in the prior year on February 14, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">With regards to the anti-trust matters
brought forward, the allegations that were made were not of a direct action of the Company or its HPC segment, but attributable to industry
wide considerations in which the Company and its HPC segment operate and were indirectly impacted. The Company and its HPC segment have
not realized a prior precedent or recent history of incurring costs in order to address such allegations and would not expect such events
or actions to be repeated or realized in the foreseeable future, and therefore considered such events and costs to be unusual and not
reflective of normal, operating expense of the Company and in accordance with the guidance set forth in Question 100.01 of the Division
of Corporate Finance Compliance &amp; Disclosure on Non-GAAP Financial Measures.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">With regards to the costs incurred
to support the litigation actions in the pursuit of insurance recoveries, we had submitted a claim under the representation and warranty
insurance policies associated with the Tristar Business acquisition seeking coverage for losses resulting from breaches of certain representation
and warranties in the acquisition agreement. There has been no historical precedent or history in which we have pursued such actions and
therefore was considered unusual and non-recurring reflective of the guidance set forth in Question 100.01 of the Division of Corporate
Finance Compliance &amp; Disclosure on Non-GAAP Financial Measures. Further noted, we have been successful in the recovery of $65 million
in insurance proceeds subsequent to the year ended September 30, 2023, which have been reported in our Form 10-Q for the interim period
ended March 31, 2024, and also included as an adjustment to EBITDA, excluding the gain from the operating performance results for the
respective period end. Given the significant and unusual nature of such actions and mitigation, the exclusion of such costs and recoveries
from normal, operating expense supporting the Company&rsquo;s operations and revenue generating activities was considered appropriate
both in the nature and effect in accordance with the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure on Non-GAAP Financial Measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">Additionally, due to the lack of materiality
of each item noted above, within the year ended September 30, 20223, we did not disclose the specific nature of these adjustments. The
Company appreciates the perspective of the Staff in its letter dated April 22, 2024 and agrees that, prospectively, it will evaluate each
adjustment for enhanced clarity and disclosure so the reader may be able to better understand the nature and reasoning why such adjustments
were excluded from the non-GAAP performance metric and why they are reflective of the guidance set forth in Question 100.01 of the Division
of Corporate Finance Compliance &amp; Disclosures on Non-GAAP Financial Measures.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for HPC product disposal. Given the nature of the company&rsquo;s business, please explain to us why the inventory cost and disposition
costs to eliminate excess inventory would not be considered normal operating expenses, and why adjusting for these costs when calculating
your non-GAAP measure is consistent with the guidance in Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure
Interpretations on Non-GAAP Financial Measures.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">As discussed in our prior comment 2
in our response letter dated March 29, 2024, the costs associated with HPC product disposal were related to the disposition of products
that were transferred with the acquisition of the Tristar Business which closed on February 18, 2022 after an assessment the performance
and quality issues of acquired product with consideration issues identified by our retail partners and customers, realization of substantive
returns, refunds associated with acquired products, amongst other issues associated with the acquired business. As part of the normal,
recurring operating expenses necessary to operate the business, the Company evaluates the risks attributable to excess and obsolete inventory,
but in consideration of the above facts and circumstances realized with the acquired Tristar Business, along with associated business
risk of the Company and its HPC segment, we did not consider the disposition to be consistent to the normal recurring risks attributable
to excess inventory but reflective of incremental loss outside of the normal operations. The Company has never had any subsequent disposal
of acquired investment related to the Company in its historical acquisitions and the nature of such losses were directly attributable
to the facts and circumstances specific the Tristar Business acquisition.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The losses realized as part of the
adjustment were directly contributed by the Tristar Business acquisition, the realization of poor product performance and quality issues
coming from claims with retailers and consumers associated with products from the acquisition, for which also contributed to the realization
of significant recalls that were not anticipated or consistent with historical precedent of the Company and its HPC segment, and for which
we have pursued remediation through various indemnifications and insurance recoveries from our representation and warranties policies
providing coverage of losses resulting from breaches of certain representation and warranties in the agreement associated with the Tristar
Business acquisition. As noted in our response to comment 4 of this letter, we have been successful in the recovery of $65 million in
insurance proceeds from our representation and warranties policies subsequent to the year ended September 30, 2023, which have been reported
in our reporting for the interim period ended March 31, 2024, and also included as an adjustment to EBITDA, excluding the gain from the
operating performance results for the respective period end. Additionally, as noted in our response to comment 6 of this letter, we have
included gains associated with indemnification provisions directly associated with the product recalls realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">In evaluating the consideration of
the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations on Non-GAAP
Financial Measures, the Company considered the nature and circumstances leading to the decision for an immediate inventory disposition
on acquired product to be unusual and non-recurring versus the nature of such costs being considered as excess inventory and directly
associated with the unusual losses and remediation actions taken by the Company in addressing the losses realized by Tristar Business
acquisition, and the indemnifications and insurance claims being realized. Given the significant and unusual nature of such actions and
mitigation, the exclusion of such costs from normal, operating expense supporting the Company&rsquo;s operations and revenue generating
activities was considered appropriate both in the nature and effect, given its associated with the Tristar Business acquisition and remediation
actions taken outside the normal course, in accordance with the guidance set forth in Question 100.01 of the Division of Corporate Finance
Compliance &amp; Disclosure on Non-GAAP Financial Measures.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Refer to your response to prior comment 2 as it relates to the adjustments
for HPC product recall. Please describe to us in greater detail the products recalled, the circumstances leading to that recall, and quantify
the category of costs (e.g., cash reimbursements, inventory replacement and disposition, third-party legal and consultation costs, etc.)
recorded in each reported period. Elaborate on how the activities and actions were event driven and specific to responses required by
the CPSC, and not reflective of pervasive matters that were previously existing. Given the nature of your operations, tell us in greater
detail why these HPC product recall costs would not represent normal operating expenses of your business, and why adjusting for such costs
in your non-GAAP measures would not be inconsistent with the guidance in Question 100.01 of the Division of Corporation Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and respectfully advises that it considered the guidance set forth in Question 100.01 of the Division of Corporate Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures when preparing the disclosures in its Form 10-K for the year ended September
30, 2023. In response to your request for greater detail on the products recalled, the following is a summary of the products that were
recently identified for recall in coordination with the CPSC:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Black+Decker&reg; Garment Steamer:</I> The recall was issued in November
2022 with a remedy agreed to with the CPSC by issuing a replacement part that would complete the required repair. Costs to facilitate
the recall were initially accrued and recognized for the year ended September 30, 2022, when the possibility of loss from a potential
recall was considered probable.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>PowerXL&reg; Self-Cleaning Juicer:</I> The recall was issued in June
2023 with a remedy agreed to with the CPSC by issuing a full refund to consumers. Costs to facilitate the recall were initially accrued
and recognized for the year ended September 30, 2022, when the possibility of loss from a potential recall was considered probable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>PowerXL&reg; Stuffed Wafflizer Waffle Maker: </I>The recall was issued
in March 2023 with a remedy agreed to with the CPSC by issuing a replacement part that would complete the required repair. Costs to facilitate
the recall were initially accrued and recognized for the year ended September 30, 2023, when the possibility of loss from a potential
recall was considered probable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 9.4pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>PowerXL&reg; Dual Basket Air Fryer: </I>The recall was issued in December
2023 with a remedy agreed to with the CPSC by issuing a full refund to consumers. Costs to facilitate the recall were initially accrued
and recognized for the year ended September 30, 2023, when the possibility of loss from a potential recall was considered probable. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">In each of the recall matters noted
above, the Company and its HPC segment evaluated claims received associated with the performance issues of the respective products, safety
concerns, and coordinated with the CPSC in the remediation actions to be taken for each recall instance. The Company and its HPC segment
do not have a history of addressing such recalls on its products and was required to address an unusual high volume of claims being realized
on certain items that were likely to result in a recall being issued with the CPSC, particularly associated with the recent Tristar Business
acquisition that closed on February 18, 2022. When the determination was made that a recall was likely to be issued, such incremental
costs to address the remediation requirements were identified and accrued based upon expected realization that an official recall will
be announced and released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The following schedule provides for
further cost detail associated with the identified product recalls and the periods in which the costs were recognized, for the years ended
September 30, 2023, and 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt TimesNewRoman">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="19" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended September 30, 2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">(in millions)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Steamer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Juicer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Wafflizer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dual Basket</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 35%; text-align: left">Retail inventory returns</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">3.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Replacement product &amp; recall management</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: TimesNewRoman,serif; font-size: 10pt">1 .7 </FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Product rework &amp; recall management</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Inventory write-offs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Indemnification recovery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.7</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left">Legal and engineering costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt TimesNewRoman,Bold,serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt TimesNewRoman">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="19" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended September 30, 2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">(in millions)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Steamer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Juicer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Wafflizer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dual Basket</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 35%; text-align: left">Retail inventory returns</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Replacement product &amp; recall management</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.5</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Product rework &amp; recall management</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Inventory write-offs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Indemnification recovery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0.7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4.2</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4.9</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left">Legal and engineering costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt TimesNewRoman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">As part of the normal, recurring, cash
operating expenses necessary to operate the business, the Company evaluates the risks attributable to product liability, along with risks
associated with warranties and returns due to defective or nonconforming product, and regularly reserves for such activity and includes
the costs associated with such risk in the normal operating costs of the business. The means and ability to facilitate such product recalls
are not a component of our normal operations and are not a substantial consideration for our product history which has required third-party
support to engage and facilitate such actions. The losses realized are directly associated with the announced product recalls summarized
above and issued with the CPSC and were abnormal and distinct from the consideration of other losses realized by the Company during such
period. Additionally, with regards to the incremental costs that were realized as part of the product recall, we also recognized indemnifications
that were being contractually provided by vendor&rsquo;s or other third-parties, due to the unusual nature of the occurrence, which were
also included as part of the adjustments to ensure all appropriate gains and losses were included within the adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company and our HPC segment do
not have a recent precedent or history of facilitating such product recalls and does not expect to continue such activities on a recurring
basis. Additionally, following the recognition of the costs associated with recalls address in our adjustment and further discussed above,
there is no expected recurring cost or adjustment to be included. The size and significance of the product recalls specifically identified
and summarized above were considered irregular to the operations and the Company does not prospective anticipate additional product recalls
to be necessary in the foreseeable future. Given the significant and unusual nature of such actions and mitigation, the exclusion of such
costs and recoveries from normal, operating expense supporting the Company&rsquo;s operations and revenue generating activities was considered
appropriate both in the nature and effect in accordance with the guidance set forth in Question 100.01 of the Division of Corporate Finance
Compliance &amp; Disclosure on Non-GAAP Financial Measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 20.95pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Please feel free to contact Jeremy W. Smeltser,
Chief Financial Officer, at (608) 278-6414 or Ehsan Zargar, General Counsel &amp; Corporate Secretary at (608) 275-4924 should you have
any further questions regarding this matter.</P>



<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 60%">&nbsp;</TD>
  <TD STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Jeremy W. Smeltser</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Jeremy W. Smeltser</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Chief Financial Officer</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Spectrum Brands Holdings, Inc.</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

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