Ralston Purina to Spin Off Battery Business

Ralston Purina Co. said it plans to spin off its struggling Eveready Battery unit to focus on its growing pet food business, the nation’s largest. Ralston’s battery business, with its Eveready and Energizer brands, suffered a drop in sales last year because of U.S. competition and slumping Asian economies. The unit is the No. 2 battery maker worldwide, behind Gillette Co.’s Duracell. Sales were $2.07 billion last year, or nearly 45% of Ralston’s $4.65 billion in revenue. Ralston’s pet business, whose brands include Meow Mix and Cat Chow cat foods and Tidy Cat litter, brought in the remaining $2.58 billion in revenue last year and accounted for 70% of Ralston’s profit. Ralston Purina shares rose $1.81 to close at $29.50 on the NYSE.