<SEC-DOCUMENT>0000950142-24-001709.txt : 20241120
<SEC-HEADER>0000950142-24-001709.hdr.sgml : 20241120
<ACCEPTANCE-DATETIME>20240626154700
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950142-24-001709
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240626

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; width: 50%"><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="border-bottom: Black 1pt solid; text-align: right; width: 50%"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 36px; width: 222px">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 26, 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 80%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <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">Form 8-K filed May 9, 2024</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; font-size: 10pt">Response dated May 20,
    2024</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; 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 June 12, 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"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We continue to evaluate your responses to all prior comments of our letter dated April 22, 2024, and
may have further comment.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The Company appreciates the commentary
and feedback from the Commission and will promptly address any and all comments raised by the Staff from our previous letter dated April
22, 2024.</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"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note your response to prior comment 1. Please clarify for us whether the retained personnel that
were specifically assigned to the transition project continue to be employed by the company, or whether their employment ended at the
end of the transition period.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">As noted in our response to prior comment
1 in relation to the HPC brand portfolio transition project, the Company commenced an internal project to transition from the Black+Decker&reg;
(B+D) brand which was subject to an expiring third-party license agreement which, at the time, was not considered be renewable, to a new
brand leveraging a recently acquired tradenames from the Tristar Business acquisition. Concurrently, there was a restructuring initiative
including headcount reductions, to reduce costs across the Company, from which the HPC segment was able to defer in order to support the
brand transition initiative.</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">Subsequently, the Company suspended
this project at the end of the 2023 fiscal year following a change in strategy in the HPC segment as the use of the B+D tradename became
a renewed strategic option for the Company and there was not further need to pursue the HPC brand portfolio transition initiative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">Additionally, the HPC segment pursued
other business strategic initiatives resulting in change in business leadership and organizational structure within the HPC segment. Following
the suspension of the HPC brand portfolio transition project, approximately 30% of the retained personnel that were specifically assigned
to the transition project are no longer employed by the Company. The continued employment of the remaining personnel was attributable
to the changes in strategic initiatives for the HPC segment that had occurred during interim period since entering the initiative, organizational
changes within the segment that were subsequently executed, including recognition of a new segment president and centralized leadership,
and overall cost savings and margin opportunities realized by the HPC segment since initiating the HPC brand portfolio transition project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">Despite the retention of certain team
members supporting the initiative, the Company continues to assert the appropriateness of the adjustment in consideration of the guidance
set forth in Question 100.1 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretation on Non-GAAP Financial Measures,
based upon the original facts and circumstances for the project being driven by the non-recurring and unusual nature of the B+D license
agreement, the Tristar Business acquisition and sizeable investment necessary to transition away from the B+D tradename that would not
occur repeatedly or occasionally due to its size and irregular significant concentration of costs. These considerations drove the original
intention to temporarily retain the personnel for execution of the HPC brand transition project that was initially developed, but subsequently
terminated based upon the changing strategic environment and assumptions. Upon realization of changes within the strategy and HPC segment,
the Company suspended further recognition of the related costs and assessed comparability to not be considered material.</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"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Refer to your response to prior comment 2 as it relates to the adjustments for other project costs.
Please address the following:</B></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">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>For your HPC Business Transformation costs, please tell us more about the retention benefit compensation
provided to key executives within the HPC segment during the year ended September 30, 2023. Tell us the amount recorded in the period
and describe the purpose and circumstances surrounding the payment of the retention benefit compensation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.5in; text-align: justify">As noted in our prior comment 2, the
HPC segment initiated the HPC Business Transformation project to shift direction of the HPC business following the Tristar Business acquisition
in February 2022 and the negative impact on the Company and its HPC segment. There were two key executive positions that resulted in the
recognition of retention related costs: (1) the HPC segment president was terminated resulting in the recognition of a temporary interim
president that was provided with incremental retention compensation during the recruiting and replacement period and (2) the operations
executive leader for the HPC segment was terminated as part of the organizational redesign and the individual was retained to support
transition and restructuring of the operation team through the remainder of the fiscal year. For these two positions, the Company recognized
retention related costs of approximately $0.5 million during the transition period for the year ended September 30, 2023.</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>For the IPL Product Category Exit costs, please describe to us the incremental costs that you incurred
towards compensation with the vendors with whom you partnered in the development and production of intense pulse light products. Tell
us the amount of these costs and why they were incurred. Tell us whether these costs relate to inventory.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.5in; text-align: justify">As noted in our response to prior comment
2, the Company and its HPC segment elected to exit the IPL product category during the year ended September 30, 2021, resulting in the
recognition of costs to compensate our third-party manufacturers for any existing production, tooling or in-process or finished good inventory
that they had invested in at that point in time that the Company made the decision to discontinue its involvement in the product category.
Additionally, during the year ended September 30, 2021, the Company disposed of inventory that was not considered sellable, with some
retained product to facilitate replacements and repairs with end-consumers in accordance with standard warranty provisions. While the
Company discontinued its involvement with the product category, there continued to be retail inventory in the market and end-consumers
that we would be liable to under our standard warranty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.5in; text-align: justify">As a result, during the year ended September
30, 2023, the incremental costs of approximately $0.5 million were recognized to dispose of the remaining product and parts that were
temporarily held to fulfill any warranty or replacements necessary following the exit of the IPL Product Category. Due to the discontinuation
of the product category and following the transition period to comply with our standard warranty provisions, the remaining costs to dispose
of the spare parts and products were recognized in a matter consistent with the costs at the time of the initial exit from the IPL product
category.</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">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>For your Direct-to-Consumer Strategic Consulting costs, please tell us the periods over which you have
been recording these costs. Tell us whether you recorded any such amounts in the 2024 interim periods.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.5in; text-align: justify">As noted in our response to prior comment
2, as it relates to the Direct-to-Consumer Consulting costs, 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. The consulting agreement was intended to be a
temporary arrangement during the transition period following the acquisition of the Tristar Business in February 2022 and was discontinued
during the fiscal year ended September 30, 2023. There were no such amounts recognized by the Company during the fiscal 2024 interim periods.
The Direct-to-Consumer Strategic Consulting costs were recognized during the following periods (in millions).</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q4F22</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q1F23</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q2F23</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q3F23</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q4F23</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">F23 Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total All</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="background-color: White; width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 10%; text-align: right">0.2</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.2</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.3</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.5</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0.7</TD>
    <TD STYLE="background-color: White; width: 8%">&nbsp;</TD></TR>
  </TABLE>


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



<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><B>4.</B></TD><TD STYLE="text-align: justify"><B>We note your response to prior comment 3 relating to the adjustments for unallocated shared costs.
Please explain to us how you determined the unallocated shared costs reflected in the adjustment. Clearly describe the methodology you
employed.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">As noted in our response to prior comment
3, the Company recognized an adjustment for unallocated shared costs associated with centralized shared costs incurred by the Company
that were historically allocated to the HHI segment as part of the supporting operating costs for the business, during the period in which
the Company owned and operated the HHI segment through the close of the divestiture in June 2023. Such costs were excluded from discontinued
operations as they are not considered direct operating costs of the HHI business. Subsequent to the closing of the sale, income from transition
service agreements supporting the HHI business are offsetting the incurred costs by the Company to provide the services under the transition
service agreements and, accordingly, the adjustment is no longer being reflected within our Adjusted EBITDA reconciliations for subsequent
periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.4pt 0 0 0.25in; text-align: justify">The unallocated shared costs adjustments
are based upon the actual historical shared cost center allocations made by the Company to all segments, including the HHI segment, during
the period in which we historically owned and operated the business. These shared operations include the costs from enabling functions
provided by the Company to all its operating segments, including finance operations such as accounts payable and accounts receivable processing,
general accounting operations, financial planning, and analysis support, as well as human resource and information technology operations.
The costs associated with these functions are captured in individual cost centers as a shared operating center for the consolidated group,
substantially consisting of personnel related costs and other third-party services supporting the enabling functions and supporting services,
which have historically been allocated to the operating segments and corporate function of the Company based upon various methodologies
such as headcount and usage factors, amongst others. Shared cost centers were then further assessed to determine any costs that were directly
attributable to the HHI operations, such as personnel costs that would transfer employment upon close of the HHI transaction. In almost
all cases, the enabling functions do not have direct costs associated with the HHI business and therefore were mostly excluded from the
reporting of discontinued operations. As part of our consolidated reporting, we excluded the indirect shared costs from the HHI segment
reporting when reporting income from discontinued operations, resulting in the incremental costs included in the consolidated income from
continuing operations during the period of ownership.</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Form 8-K filed May 9, 2024</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Exhibit 99.1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Adjusted Diluted EPS, page 18</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"><B>5.</B></TD><TD STYLE="text-align: justify"><B>We understand from your disclosures on pages 5 and 18 that the &ldquo;income tax adjustment is included
in adjusted diluted EPS to exclude the impact of the valuation allowance against deferred taxes and other tax-related items in order to
reflect a normalized ongoing tax rate of 25.0%.&rdquo; Please tell us how the exclusion of the aforementioned items is consistent with
the guidance in Questions 100.04 and 102.11 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretation on Non-GAAP
Financial Measures.</B></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 in consideration of Questions 100.04 and 102.11 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretation
on Non-GAAP Financial Measures, the Company intends to adjust its determination and reconciliation for Adjusted EPS by excluding the income
tax adjustment to reflect a normalized ongoing tax rate and recognize the income tax impact consisting of the current and deferred income
tax expense commensurate with the non-GAAP measure, and will present as a separate adjustment and explanation in accordance with the guidance.
We advise the Staff that in our presentation in future filings, the Company will reflect the noted changes for Adjusted EPS and will adjust
for all comparable periods included therein.</P>

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

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

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

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

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

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

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  D -X# 2(  A$! Q$!_\0
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M<=*U*U>/Y804$FTNJZ^1C#*I3JU95)-*3TY7;3L]#F=/\%V-KX6FT67YQ/\
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H0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110!__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
