<SEC-DOCUMENT>0000950142-24-002269.txt : 20241120
<SEC-HEADER>0000950142-24-002269.hdr.sgml : 20241120
<ACCEPTANCE-DATETIME>20240823110307
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950142-24-002269
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240823

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 Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <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>
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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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 23, 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; font-size: 10pt">Response dated June 26,
    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"></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: 12pt 0; 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 July 31, 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: 12pt 0; 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: 12pt 0; 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: 12pt; margin-bottom: 12pt"><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>Disclosure in your Form 10-K states that Adjusted EBITDA provides useful information to investors because
it reflects the ongoing operating performance and trends of your segments, excluding certain non-cash based expenses and/or non-recurring
items during each of the comparable periods. Please revise your disclosure in future filings to more clearly explain why Adjusted EBITDA
on a consolidated basis is useful to investors as a non-GAAP performance measure. Refer to Item 10(e)(1)(i)(C) of Regulation S-K.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment. In response to the Staff&rsquo;s comment, the Company reviewed Item 10(e)(1)(i)(C) of Regulation S-K to address the matter of
disclosure on providing a clearer explanation why Adjusted EBITDA on a consolidated basis is useful to investors as a non-GAAP performance
measure and will revise our disclosure in future filings as follows (underline used to emphasize additions to existing definition):</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify"><I>Adjusted EBITDA and Adjusted EBITDA
Margin are non-GAAP metrics used by management, which we believe are <U>useful to investors to measure the operational strength and performance
of our business as it provides investors additional information about our operating profitability by excluding certain non-cash items,
non-routine items we do not expect to continue at the same level in the future</U>, as well as other items not considered core to our
continuing operations. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, <U>we
believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating
how well we are executing our strategic initiatives, as we believe securities analysts and other interested parties use such calculations
as a measure of financial performance and debt service capabilities, and management and our board of directors regularly use these measures
for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other
peer companies using similar measures</U>. They facilitate comparisons between peer companies since interest, taxes, depreciation, and
amortization can differ greatly between organizations as a result of differing capital structures and tax strategies. Adjusted EBITDA
is also used for determining compliance with the Company&rsquo;s debt covenants.</I></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note that Adjusted EBITDA has been disclosed as the measure of profit or loss for your reportable
segments pursuant to FASB ASC 280. However, you provide a reconciliation from Net income (loss) from continuing operations to EBITDA and
Adjusted EBITDA for your reportable segments. In addition, it does not appear that Net income (loss) from continuing operations for your
reportable segments includes income tax expense or interest expense. Please tell us how you determined that the presentation provided
is consistent with Items 10(e)(1)(i)(A) and (B) of Regulation S-K. For additional guidance, refer to Question 104.01 of the Division of
Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment. In response to the Staff&rsquo;s comment, the Company reviewed Items 10(e)(1)(i)(A) and (B) of Regulation S-K and Question 104.01
of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures to address the matter
of disclosure considering the inclusion of our reportable segments within our reconciliation from Net income (loss) from continuing operations
to EBITDA and Adjusted EBITDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">For purpose of clarification, we
had included the adjusted EBITDA for the reportable segments within our reconciliation to present the reconciliation of by segment operating
results to the consolidated Adjusted EBITDA. Within that reconciliation, the exclusion of income tax expense by segment is due to income
tax not being specifically identifiable to any operating or reportable segment because the operations of the reportable segments are not
specifically identifiable by legal entities within the organization and the tax provision is developed through a group consolidation and
not defined by any operating or reporting segment, but through legal organization and respective tax regulations and requirements on a
global basis. Similarly, the exclusion of interest expense by segment is due to the centralized treasury operations and debt obligations
not being specifically identifiable to any operating or reportable segment but through the consolidated needs and requirements of the
group, both in supporting the continuing operations of the operating or reportable segments, but also the strategic initiatives of the
consolidated group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">In consideration of Items 10(e)(1)(i)(A)
and (B) of Regulation S-K and the disclosure guidance provided by Question 104.01 of the Division of Corporation Finance Compliance &amp;
Disclosure Interpretations on Non-GAAP Financial Measures, in future filings we will revise our non-GAAP disclosure to exclude Adjusted
EBITDA by segment within our reconciliation of Net income (loss) from continuing operations to EBITDA and Adjusted EBITDA and will only
present the consolidated results within our reconciliation to avoid further confusion and be aligned with the requirements and interpretations.</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Your March 29 response to comment 2 regarding the Tristar Business acquisition and integration adjustment
refers to incremental compensation for personnel supporting transition and integration efforts during the transitionary period. Please
quantify these costs for each of the last two fiscal years and describe the roles performed by these personnel.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and as noted in comment 2 in our March 29 response regarding the Tristar Business acquisition and integration adjustment, we referred
to incremental compensation related to costs for personnel supporting the transition and integration efforts during the transitory period.
More specifically, these costs are associated with retention bonuses and incentive compensation that was provided to personnel assumed
as part of the Tristar Business acquisition, provided for all levels of personnel supporting functions of the acquired business such as
accounting and finance, sales and commercial operations and supply chain. The recognition of these retention bonuses and incentive compensation
were entered into in consideration of the purchase of the Tristar Business as a benefit to the Company, specifically entered into with
the respective personnel upon close of the transaction to support the post-transaction integration and therefore considered a transaction
cost of the acquired business, recognized over the service period for those individuals following the close of the transaction. The retention
bonuses were approximately $4.5 million and $5.7 million for the years ended September 2023 and 2022, respectively.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><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>Your May 20 response to comment 1 regarding the non-GAAP adjustments for the HPC brand portfolio transitions
notes a shift in strategy required for the utilization of your brands towards brand development and acquisition to transition away from
use of the Black &amp; Decker tradename (&ldquo;the B+D tradename&rdquo;). Please tell us whether actions such as shifts in strategy and
managing the transition of your business to new brands are deemed to be a normal activity considering your operations, revenue generating
activities, and business strategy. Also, tell us the extent to which &ldquo;the sizeable investment necessary to transition away from
the B+D tradename&rdquo; was a factor in applying Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations
on Non-GAAP Financial Measures to this adjustment.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and as noted in comment 1 in our May 20 response regarding the non-GAAP adjustment for the HPC brand portfolio transition, we
had considered the non-recurring and unusual nature of the transition away from the B+D tradename was specifically attributable to the
relative size and significance, driven by the circumstances from the pending expiration of a license agreement and the purchase of the
Tristar Business, creating an irregular significant concentration of costs when considering the guidance in Question 100.01 of the Division
of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures. Such substantial shifts in strategy
are not considered to be normal activity in our operations, but the consideration of the guidance was not directly attributable to the
nature of the costs being incurred as we would expect similar operating costs to be recognized to support new product development and
commercialization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">Upon further consultation with the
guidance and interpretations set forth in Question 100.01 of the Division of Corporate Finance Compliance and Disclosure Interpretations
on Non-GAAP Financial Measures, and consideration of the subsequent change in circumstances resulting in the Company suspending the project
at the end of the 2023 fiscal year, as noted in comment 2 to our July 26 response, we believe it would be most appropriate to revise in
future filings our reporting of consolidated Adjusted EBITDA and reconciliation of Net income (loss) from continuing operations to EBITDA
and Adjusted EBITDA for the annual periods ended September 30, 2023 and 2022, and all interim periods included therein to remove the adjustment
associated with the HPC brand portfolio transition. The revision will be reflected within all future filings for historical comparative
periods.</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>With regards to costs associated with the Global ERP Transformation, your March 29 response to comment
2 notes the non-GAAP adjustments include incremental compensatory costs for a dedicated project management team. Please tell us whether
the project management team is made up of employees or external professionals and consultants and describe their roles and responsibilities.
In addition, quantify the amount of compensatory costs included in this non-GAAP adjustment for each of the last two fiscal years and
the most recent interim period.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and as noted in comment 2 in our March 29 response regarding the non-GAAP adjustment for Global ERP Transformation included compensatory
costs for a dedicated project management team that consists of employees that were designated as dedicated project leads included overall
project management for the SAP S/4 HANA implementation initiative, coordinating resources and execution of the program goals and initiatives,
and dedicated business process and IT development leads dedicated to the coordination and execution of program requirements. The internal
project team was identified and for the development and implementation of the SAP S/4 HANA project and separated from other internal personnel
that are supporting the continuing ongoing operations of the Company. Compensatory costs include salaries and benefits of the identified
personnel, plus any incentive compensation associated with the successful implementation of the project. Since the project was initiated,
the Company has completed its initial pilot deployment late in the year ended September 30, 2023, and has since reduced the requirements
and needs of the initiative for subsequent deployments and requirements, reducing the number of dedicated resources within the project
team specifically assigned to the transition and has resulted in the termination and severance of respective positions and costs. The
remaining project team has been substantially reduced and it is not expected to be absorbed by the Company following the completed implementation
with costs to be fully resolved by the end of the fiscal year ending September 30, 2025. The total costs associated with the dedicated
internal employee compensation was $2.2 million and $2.5 million during the years ended September 30, 2023 and 2022, respectively, and
$2.7 million for the nine-month period ended June 30, 2024.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Your May 20 response to comment 2 regarding the Strategic Plan Development component of the non-GAAP
adjustment for Other project costs explains that you engaged with a third-party consulting partner to assist in the development of a long-term
strategic plan in consideration of the divestiture transactions that you had executed or were in process of executing. Please describe
the services provided by these consultants in greater detail and further explain why costs incurred related to long-term strategic planning
are not a normal, recurring operating expense per Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations
on Non-GAAP Financial Measures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and as noted in comment 2 of our May 20 response letter, the Strategic Plan Development component of the non-GAAP adjustment for
Other project costs was attributable to the engagement of a third-party consulting partner to assist in the development of a long-term
strategic plan in consideration of divestiture transactions that had been executed or were in process of executing. The nature of the
services provided by our consultants were to establish a strategic 5-year path as a pure play pet care and home care business following
the completion of divestitures of our HHI business, completed as of June 2023, and our HPC segment which we have been executing on various
exit strategies. The development of the 5-year strategic path included development of competitive analysis of the resized organization
and performance relative to peers, assessing size and structure of the remaining operations and personnel of the company, assessing near-in
adjacency strategy within relevant sectors and geographies, advising on operational topics such as sales &amp; operations planning, SKU
rationalization, working capital management, establish revenue growth management strategies, and developing an overall roadmap and integrated
models to incorporate overlapping priorities and initiatives.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The completion of these divestitures
substantially changes the size and scope of the Company and requires substantive adjustment in our strategic initiatives, along with the
overall operating structure and design of the remaining operations and enabling functions of the Company, to the degree we have not seen
since we completed the divestitures of our batteries and global auto care business approximately 5 years previously, requiring similar
actions. As previously noted in response to the comment 2 in our May 20 response, we have recognized these as irregular and unusual given
the investment is attributable to the divestiture actions being completed which was primarily 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. Given
the significance of the divestitures driving a significant shift in size of the remaining organization, their impact relative to the Company&rsquo;s
needs and ability to support its continuing operations and remaining segments, and irregular nature in the development of a transformative
strategic analysis and roadmap, we continue to assert that the nature of the costs incurred are appropriate and reflective of non-recurring
costs in accordance with the referenced guidance.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>We note from your June 26 response to comment 3 that the HPC Business Transformation component of Other
project costs includes retention related costs for two key executive positions. Please revise to remove this adjustment as these costs
appear to be normal, recurring operating expenses based on Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure
Interpretations on Non-GAAP Financial Measures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and will revise in future filings our reporting of consolidated Adjusted EBITDA and reconciliation of Net income (loss) from continuing
operations to EBITDA and Adjusted EBITDA for the annual periods ended September 30, 2023, and all interim periods included therein to
remove the adjustment associated with the HPC Business Transformation component of Other project costs discussed in comment 3 of our June
26 response letter. The revision will be reflected within all future filings for comparative periods.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Your May 20 response to comment 2 states that the Business Development Office component of Other project
costs primarily consists of personnel costs related to business development activities, diligence, and transformation initiatives. As
these costs appear to be normal, recurring operating expenses based on Question 100.01 of the Division of Corporation Finance Compliance
&amp; Disclosure Interpretations on Non-GAAP Financial Measures, please revise to remove the related non-GAAP adjustment.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and will revise in future filings our reporting of consolidated Adjusted EBITDA and reconciliation of Net income (loss) from continuing
operations to EBITDA and Adjusted EBITDA for the annual periods ended September 30, 2023, and all interim periods included therein to
remove the adjustment associated with the Business Development Office component of Other project costs discussed in comment 2 of our May
20 response letter. The revision will be reflected within all future filings for comparative periods.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>In your May 20 response to comment 2, you state that the recognition of the IPL Product Category Exit
component of Other project costs was triggered by your decision to completely exit the product category. As the costs related to your
exit from the IPL product category, such as the costs incurred to dispose of the remaining product and parts, appear to be normal, recurring
operating expenses based on Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP
Financial Measures, please revise to remove this adjustment.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and will revise in future filings our reporting of consolidated Adjusted EBITDA and reconciliation of Net income (loss) from continuing
operations to EBITDA and Adjusted EBITDA for the annual periods ended September 30, 2023, and all interim periods included therein to
remove the adjustment associated with the IPL Product Category Exit component of Other project costs discussed in comment 2 of our May
20 response letter. The revision will be reflected within all future filings for comparative periods.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Your response dated June 26 to comment 4 states that the unallocated shared costs adjustment relates
to a shared operating center for the consolidated group attributable to the HHI segment that are excluded from the reporting of discontinued
operations. Please revise to remove this non-GAAP adjustment as it appears that these costs are normal, recurring operating expenses based
on Question 100.01 of the Division of Corporation Finance Compliance &amp; Disclosure Interpretations on Non-GAAP Financial Measures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and will revise in future filings our reporting of consolidated Adjusted EBITDA and reconciliation of Net income (loss) from continuing
operations to EBITDA and Adjusted EBITDA for all the annual periods ended September 30, 2023, and all interim periods included therein
to remove the adjustment associated with unallocated share costs adjustment discussed in comment 4 of our June 26 response letter. The
revision will be reflected within all future filings for comparative periods.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>We note from your May 20 response to comment 5 that the costs associated with the non-GAAP adjustments
for HPC product disposal were contributed by the Tristar Business acquisition, the realization of poor product performance, and quality
issues associated with products from the acquisition. Please explain in greater detail why these losses are unusual (e.g., further address
the relevant facts and circumstances specific to the Tristar Business acquisition, the timing of the inventory disposition, and the link
to product recalls) and clarify the nature of the poor product performance and quality issues noted in your response.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and as noted in comment 5 of our May 20 response letter, we considered the nature and the non-recurring circumstances of the related
inventory disposition to be the consideration for the losses as being unusual. Following the acquisition of the Tristar Business in February
2022, there were substantial negative impacts to the business and partner relationships that were realized and directly attributable to
the acquisition and were not previously present until such business was assumed as part of the acquisition. The circumstances leading
up to the acquisition, prior to Spectrum&rsquo;s ownership, attributed to a significant level of inventory being held in retail channels,
undisclosed commitments made by the prior owner of the Tristar Business with retail partners and vendors, and misrepresentations that
influenced consideration towards the purchase price and ultimately led to the Company being able to recover insurance proceeds as part
of the representation and warranty insurance policies acquired. The Company was not aware of such circumstances when the Tristar Business
was acquired and impactful to the realized losses and results of operations within our HPC segment in subsequent periods, which further
drove the realization of impairments within those subsequent periods.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">Since the acquisition, the legacy
Tristar business experienced, among other things, increased levels of retail inventory, significant distribution challenges, reduced sales,
increased promotional spending and deductions, higher levels of returns, and overall increased amount of costs. The Company also received
higher volume of returns from specific customers with claims indicating high level of quality issues in related products, returning substantial
level of stock and requesting significant claims against outstanding credit. Additionally, as part of this, the Company also became subject
to product recalls associated with certain acquired inventory, for which the Company has been obligated to facilitate under the CPSC and
has incurred costs to do so with actions to pursue recovery from the former owner of the acquired business in accordance with the terms
and conditions of the purchase agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company pursued further review
of the existing product inventory of the acquired business, including assessment over safety claims and detailed product quality reviews,
and capabilities and opportunities to pursue alternative or wholesale distribution to alleviate the Company of the acquired inventory.
Such analysis was completed in September 2023, and it was determined that the best alternative was to fully discontinue and destroy the
selected products from the inventory that were deemed to be damaging to the brand through poor product quality and/or performance, or
risk of further safety concern or additional claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company regularly evaluates its
inventory values for excess &amp; obsolete inventory, including the potential disposition of inventory that would result in a loss to
the Company. The accumulation of loss recognized was related to the decision by the Company to dispose of the affected inventory through
destruction versus mitigating the loss through alternative means, influenced by the losses realized following the acquisition of the Tristar
business, further discussed above. The decision to destroy such inventory is unusual relative to the normal consideration of excess &amp;
obsolete inventory as the Company regularly uses means to mitigate loss including wholesale or below cost sales, whereas the treatment
and result of Tristar related inventory was considered outside the normal course and resolution given the nature and circumstances discussed
above.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Please clarify your May 20 response to comment 6 as it does not appear to adequately describe the circumstances
leading to the product recalls and explain how the activities and actions taken were event driven and specific to responses required by
the CPSC. In addition, explain the statement that facilitating product recalls is not a component of your normal operations and are not
a substantial consideration for your product history as risk factor disclosure in your Form 10-K appears to indicate that you may be subject
to product liability claims and product recalls in the ordinary course of your business.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">The Company acknowledges the Staff&rsquo;s
comment and to further expand on that comment, the product recalls were recognized in response to a negotiated remediation action that
was established specifically with the requirements of the CPSC for those products that were detailed within the May 20 response to comment
6 which is not consistent to how matters of product liability are regularly addressed and managed by the Company. We have not experienced
a consistent or regular engagement with the CPSC to execute a mandated product recall which varies from our experience in supporting matters
of product liability claims.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">In response to the notice of a product
recall, we required the assistance of a third-party specialist to support the management of the recall itself in performing such actions
as responding to claims from consumers, facilitating and managing the day-to-day execution of the remediation action whether it being
cash refund or product replacement or repair, and support the operation of such refund action through administrative reporting to the
Company on response and costs. Further, the third-party specialist helps ensure that the recall is executed consistent to the agreed upon
remediation actions and documentation needs for the CPSC to ensure the Company is following the requirements and guidelines necessary
for proper compliance. Additionally, with the issuance of a recall, we are required to issue stop orders with our customers (i.e., retailers)
to suspend any further sale of identified products subject to recall and request that such product on hand be pulled from shelves and
sent back to the Company to be properly destroyed, or otherwise destroyed &lsquo;in-field&rsquo; with the appropriate documentation and
evidence to support the needs and requirements of the remediation action plan with the CPSC. Such actions and activity are outside the
normal operations as it is outside the normal course of actions to be taken with any product returns we anticipate within the normal recurring
operations of the business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.25in; text-align: justify">In response to our product liability
matters, there is a risk that experienced claims may be deemed to be pervasive or indicative of a larger risk of loss due which may escalate
a requirement to report to the CPSC for the issuance of a product recall. Although we have seen product liabilities claims arise on a
frequent basis within the Company&rsquo;s history, we would consider the issuance of a product recall to be irregular or infrequent, as
there has not been a substantial material risk of loss or elevated concern associated with such product liability matters that have risen
to the requirements of a product recall. We timely manage and assess product liability claims to assess potential impact and loss given
the nature of certain products and risks that may arise with the consumer use of products we manufacture and/or sell, which is the basis
for the disclosed risk factor that &ldquo;<I>The Company may be subject to product liability and product recalls, which could negatively
impact its profitability</I>&rdquo;. While the risk factor may highlight and indicate that there is a risk of product recall along with
the risk of product liability, the nature of the risk is not reflective of its frequency or realization that it would occur for actual
issuance of a product recall but rather that the realization of a product recall would have a negative effect. As further noted above
and in our response to comment 6 in our May 20 response, we would consider that the infrequent and unusual nature of a product recall
is consistent to the guidance provided by Question 100.01 of the Division of Corporate Finance Compliance &amp; Disclosure Interpretations
on Non-GAAP Financial Measures as is neither normal or recurring to the Company.</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: 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="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; 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"></P>

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

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

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


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