Tetra GmBH sold for 294 million

Tetra, one of the world's largest manufacturers of aquarium products and fish foods has been bought for 294 million by the battery manufacturer Rayovac.

Rayovac, an American company who produces an array of products ranging from Varta batteries to the Remington Precision Nose and Ear Hair Trimmer, bought Tetra GmBH for $550 million to try and buy its way into the fish market.

The company, which also owns Eight In One Pet Supplies, says that the new acquisition makes it the world's largest supplier of pet products.

Rayovac Chairman and Chief Executive David Jones told Business Week: "The acquisition of Tetra is a significant step forward in our strategy of becoming a more significant global player in the pet supplies industry."

Tetra's headquarters are based in Melle, Germany, but it has independent offices around the world, including the USA and the UK.