ENERGIZER HOLDINGS INC
10-K, 2000-12-15
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                 ----------------------------------------------

                                    FORM 10-K

                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended September 30, 2000     Commission File No. 001-15401


                            ENERGIZER HOLDINGS, INC.

  Incorporated in Missouri           IRS Employer Identification No. 43-1863181
                    800 Chouteau, St. Louis, Missouri  63102
        Registrant's telephone number, including area code: 314-982-2000

                 -----------------------------------------------

           Securities registered pursuant to Section 12(b) of the Act:


TITLE OF EACH CLASS                    NAME OF EACH EXCHANGE ON WHICH REGISTERED
----------------------                 -----------------------------------------

Energizer Holdings,  Inc.              New York Stock Exchange, Inc.
Common Stock, par value
$.01 per share

Energizer Holdings, Inc.               New York Stock Exchange, Inc.
Common Stock Purchase Rights


Registrant  has filed all reports required to be filed by Section 13 or 15(d) of
the  Securities Exchange Act of 1934 during the preceding 12 months and has been
subject  to  such  filing  requirements  for  the  past  90  days.

Yes:     X     No:

Disclosure  of  delinquent  filers pursuant to Item 405 of Regulation S-K is not
contained  herein  and  will  not  be  contained,  to  the  best of registrant's
knowledge,  in  the definitive proxy statement incorporated by reference in Part
III  of  this  Form  10-K  or  any  amendment  to  this  Form  10-K.

Yes:     X     No:


<PAGE>
      Aggregate market value of the voting stock held by nonaffiliates of the
   Registrant as of the close of business on November 1, 2000:  $1,928,837,085

(Excluded  from  this figure is the voting stock held by Registrant's Directors,
who  are  the  only  persons known to Registrant who may be considered to be its
"affiliates"  as  defined  under  Rule  12b-2.)

Number  of  shares  of Energizer Holdings, Inc. Common Stock ("ENR Stock"), $.01
par  value, outstanding as of close of business on December 4, 2000:  94,402,011

                       DOCUMENTS INCORPORATED BY REFERENCE

1.     Portions of Energizer Holdings, Inc. Year 2000 Annual Report (Parts I and
II  of  Form  10-K).

2.     Portions  of  Energizer Holdings, Inc. Notice of Annual Meeting and Proxy
Statement  dated  December  13,  2000  (Part  III  of  Form  10-K).

                                     PART I

ITEM  1.          BUSINESS.

GENERAL

     Energizer  Holdings, Inc., incorporated in Missouri in 1999, is the world's
largest manufacturer of primary batteries and flashlights and a global leader in
the  dynamic business of providing portable power.  On April 1, 2000, all of the
outstanding  shares  of common stock of Energizer were distributed in a tax-free
spinoff  to  shareholders  of  Ralston  Purina  Company.

     Energizer  is  the  successor to over 100 years of expertise in the battery
and  lighting products industry. Its brand names "Eveready" and "Energizer" have
worldwide  recognition  for quality and dependability, and are marketed and sold
in  more  than  140 countries. Energizer's subsidiaries operate 22 manufacturing
facilities  in  15  countries on 4 continents, and employ 3,415 employees in the
United  States  and  7,065  in  foreign  jurisdictions.

PRINCIPAL  PRODUCTS

     Energizer's  subsidiaries manufacture and market a complete line of primary
alkaline  and  carbon  zinc  batteries,  miniature batteries and flashlights and
other  lighting  products.  Although  Energizer,  in  November of 1999, sold its
rechargeable  battery  manufacturing  and  assembly  business,  which  produced
rechargeable  batteries  for  sale  to  manufacturers of rechargeable equipment,
Energizer  continues  to market a line of rechargeable batteries for retail sale
to  consumers.  Energizer  believes  it has one of the industry's most extensive
product  lines.  "Energizer"  brand  alkaline batteries are the most popular and
widely  used  in  the array of Energizer products.  The batteries are offered in
1.5  volt,  4.5 volt, 6 volt and 9 volt configurations, and are available in the
standard selection of sizes, including AA, AAA, AAAA, C, D and 9 volt sizes.  In
the  summer of 2000, Energizer introduced a super-premium alkaline battery under
the  brand name "Energizer e2", as well as a value-priced alkaline battery under
the  name  "Eveready  Alkaline".  Energizer  also  produces  or  distributes:

-     "Energizer Industrial" batteries in three models targeted for non-consumer
industrial  applications;
-     lithium  batteries,  available in AA, miniature and cylindrical sizes, for
use in high-performance applications such as cameras, camcorders, memory backup,
CD  players  and  portable  computers;
-     a line of miniature batteries, available in several chemistries, including
silver  oxide,  zinc-air  and  manganese  dioxide systems, for use in electronic
watches,  calculators,  hearing aids, cameras, miniature radios, remote controls
and  electronic  thermometers;
-     the "Eveready" brand "Super Heavy Duty" and "Classic" lines of carbon zinc
batteries  for  economy  applications;  and
-     a  line  of rechargeable batteries and battery packs under the "Energizer"
brand  name.

Energizer is also the world's largest manufacturer of portable lighting devices,
offering  more  than  60 different lighting products for consumer and industrial
use.

SOURCES  AND  AVAILABILITY  OF  RAW  MATERIALS

     The  principal  raw materials used in the Energizer business - electrolytic
manganese  dioxide,  zinc,  acetylene  black, graphite, steel cans, nylon, brass
wire,  separator  paper, and potassium hydroxide -- are sourced on a regional or
global  basis.  Energizer  believes  that adequate supplies of the raw materials
required  for  its  operations  are  available  at  the present time, but cannot
predict  the  future  availability  or  prices  of  such  materials.  These  raw
materials  are  generally  available from a number of different sources, and the
prices of those raw materials are susceptible to currency fluctuations and price
fluctuations  due  to  transportation,  government  regulations, price controls,
economic climate, or other unforeseen circumstances.  In the past, Energizer has
not  experienced  any significant interruption in availability of raw materials.

     Energizer's management has extensive experience in purchasing raw materials
in  the commodity markets.  From time to time, management has taken positions in
various ingredients to assure supply and to protect margins on anticipated sales
volume.

SALES  AND  DISTRIBUTION

     Energizer's  battery and lighting products are marketed primarily through a
direct  sales  force to mass merchandisers, wholesalers and other customers, but
also  through  exclusive  and  non-exclusive  distributors  and  rack jobbers of
consumer  packaged  goods products. Third party food brokers may be used to make
headquarters contacts in the retail food industry and to merchandise Energizer's
products  at  retail locations.  In the United States, the direct sales team has
been  reorganized  into  a  Customer  Management  Team  focused  on key business
accounts  in several categories, including food, mass merchandise and specialty.
Energizer  distributes  its  products  to  consumers  through  numerous  retail
locations  worldwide,  including  mass  merchandisers and warehouse clubs, food,
drug and convenience stores, electronics specialty stores and department stores,
hardware  and  automotive  centers  and  military  stores.

     Although  a  large  percentage  of  Energizer's sales are attributable to a
relatively  small number of retail customers, only Wal-Mart Stores, Inc. and its
subsidiaries,  as  a  group,  account  for  more than ten percent of Energizer's
sales.  For  fiscal  year 2000, those customers accounted for, in the aggregate,
approximately  15.3%  of  Energizer's  sales.

PATENTS,  TECHNOLOGY  AND  TRADEMARKS

     Energizer's  operating  subsidiaries  own  a  number  of  trademarks  which
Energizer considers of substantial importance and which are used individually or
in  conjunction  with  other  Energizer  trademarks.  These  include "Eveready",
"Energizer",  "Energizer  Advanced Formula", "Energizer e2", the Energizer Bunny
and  the  Energizer  Man  character.

     Energizer's  ability to compete effectively in the battery industry depends
in  part on its ability to maintain the proprietary nature of its technology and
manufacturing  processes  through  a  combination  of  patent  and  trade secret
protection,  non-disclosure  agreements,  licensing,  and  cross-licensing
agreements.  Energizer's  subsidiaries  own  or  license  from  third  parties a
considerable  number  of patents, patent applications and other technology which
Energizer  believes  are extremely significant to its business.  These primarily
relate  to  battery product and lighting device improvements, additional battery
product  features,  and  manufacturing  processes.

     As  of  September 30, 2000, Eveready Battery Company, Inc., a subsidiary of
Energizer,  owned approximately 165 unexpired United States patents which have a
range  of  expiration  dates  from  September,  2000  to November, 2016, and had
approximately  177  United  States  patent  applications  pending.  It routinely
prepares  additional  patent  applications  for  filing  in  the  United States.
Eveready  also actively pursues foreign patent protection in a number of foreign
countries.  As  of  September 30, 2000, Eveready owned approximately 700 foreign
patents  and  had  approximately  650  patent  applications  pending  in foreign
countries.

     Since  publications  of  discoveries in the scientific or patent literature
tends  to  lag  behind  actual discoveries by several months, Eveready cannot be
certain  that  it  was the first creator of inventions covered by pending patent
applications  or  the  first  to  file  patent  applications on such inventions.

SEASONALITY

     The  battery business, particularly in North America, tends to be seasonal,
with  large  purchases  of  batteries  by consumers during the Christmas holiday
season,  and  increases  in  retailer inventories during late summer and autumn.

COMPETITION

     The  battery  business is highly competitive, both in the United States and
on  a  global  basis,  as  a  number  of large battery manufacturers compete for
consumer  acceptance and, increasingly, limited retail shelf space.  Competition
is  based  upon  brand  perceptions,  product  performance, customer service and
price.

     Energizer  competes  in  a  high-growth  domestic  and  global  market. The
alkaline  battery  segment,  both  in  the  United  States and worldwide, is the
fastest  growing  segment  of  the primary battery market. Energizer's principal
competitors  in the United States are Duracell International, Inc., a subsidiary
of  The Gillette Company, and Rayovac Corporation.  Private-label sales by large
retailers  have  also  been  growing  in  significance.  Duracell  is  also  a
significant  competitor  in  South  and Central America and Asia and Europe, and
local  and  regional  battery  manufacturers in Asia and Europe also compete for
battery  sales.

      Energizer  has a significant market position in most geographic markets in
which  it  competes.  According  to  A.C.  Nielsen,  Energizer's primary battery
market  share  in  the  United States for the 52 weeks ended October 7, 2000 was
32.9%.

GOVERNMENTAL  REGULATION  AND  ENVIRONMENTAL  MATTERS

     The  operations  of Energizer, like those of other companies engaged in the
battery  business, are subject to various federal, state, foreign and local laws
and  regulations  intended  to  protect  the  public health and the environment.
These  regulations  primarily  relate  to  worker safety, air and water quality,
underground  fuel  storage  tanks  and  waste  handling  and  disposal.

      Energizer  has  received  notices  from  the U.S. Environmental Protection
Agency, state agencies, and/or private parties seeking contribution, that it has
been  identified  as  a  "potentially  responsible  party"  (PRP)  under  the
Comprehensive Environmental Response, Compensation and Liability Act, and may be
required  to  share in the cost of cleanup with respect to 9 federal "Superfund"
sites.  It  may also be required to share in the cost of cleanup with respect to
a  state-designated  site.  Liability  under  the  applicable  federal and state
statutes  which  mandate  cleanup  is  strict, meaning that liability may attach
regardless  of lack of fault, and joint and several, meaning that a liable party
may  be  responsible for all of the costs incurred in investigating and cleaning
up  contamination  at  a  site.  However, liability in such matters is typically
shared  by all of the financially viable responsible parties, through negotiated
agreements.  Negotiations  with  the  U.S.  Environmental Protection Agency, the
state  agency that is involved on the state-designated site, and other PRP's are
at  various  stages  with  respect  to  the  sites.  Negotiations  involve
determinations  of

-     the  actual  responsibility  of Energizer and the other PRP's at the site,
-     appropriate  investigatory  and/or  remedial  actions,  and
-     allocation  of the costs of such activities among the PRP's and other site
users.

The  amount of Energizer's ultimate liability in connection with those sites may
depend  on  many  factors,  including:

-     the  volume  and  toxicity  of  material  contributed  to  the  site,
-     the  number  of  other  PRP's  and  their  financial  viability,  and
-     the  remediation  methods  and  technology  to  be  used.

     In  addition,  Energizer  undertook certain programs to reduce or eliminate
the  environmental  contamination  at  the  rechargeable  battery  facility  in
Gainesville,  Florida,  which was divested in 1999.  In the event that the buyer
would  become  unable  to continue such programs, Energizer could be required to
bear  financial  responsibility for such programs as well as for other known and
unknown  environmental  conditions  at  the  site.

     Many  European  countries,  as  well  as the European Union, have been very
active  in adopting and enforcing environmental regulations.  In many developing
countries  in  which  Energizer  operates,  there  has  not  been  significant
governmental  regulation  relating  to  the  environment,  occupational  safety,
employment practices or other business matters routinely regulated in the United
States.  As  such  economies  develop,  it  is possible that new regulations may
increase  the  risk  and  expense  of  doing  business  in  such  countries.

It  is  difficult  to  quantify with certainty the potential financial impact of
actions  regarding  expenditures  for  environmental  matters,  particularly
remediation,  and  future  capital  expenditures  for  environmental  control
equipment.  Nevertheless,  based  upon  the  information  currently  available,
Energizer  believes  that its ultimate liability arising from such environmental
matters,  taking into account established accruals of $3.6 million for estimated
liabilities,  should  not be material to its financial position.  Such liability
could,  however,  be  material  to  results  of  operations  or cash flows for a
particular  quarter  or  annual  period.

OTHER  MATTERS

     The  descriptions of the business of, and the summary of selected financial
data  regarding  Energizer  appearing  under  "ENERGIZER  HOLDINGS,  INC.  -
MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS OF OPERATIONS AND FINANCIAL
CONDITION - BUSINESS OVERVIEW" on pages 10 through 11, "ENERGIZER HOLDINGS, INC.
-  MANAGEMENT'S  DISCUSSION  AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL
CONDITION  -  HIGHLIGHTS"  on  page 11, "ENERGIZER HOLDINGS, INC. - MANAGEMENT'S
DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF  OPERATIONS AND FINANCIAL CONDITION -
LIQUIDITY  AND  CAPITAL  RESOURCES" on pages 15 through 16, "ENERGIZER HOLDINGS,
INC.  -  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF OPERATIONS AND
FINANCIAL  CONDITION  - OPERATING RESULTS - Segment Results" on pages 12 through
13,  "ENERGIZER HOLDINGS, INC. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS
OF  OPERATIONS  AND  FINANCIAL  CONDITION  -  OPERATING  RESULTS  - Research and
Development  Expense"  on  page  13,  "ENERGIZER  HOLDINGS,  INC.  -  NOTES  TO
CONSOLIDATED FINANCIAL STATEMENTS - SEGMENT INFORMATION" on pages 44 through 45,
and  "ENERGIZER  HOLDINGS,  INC.  - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -
SUMMARY  OF  ACCOUNTING POLICIES - Research and Development Costs" on page 27 of
the  Energizer  Holdings, Inc. Year 2000 Annual Report to Shareholders 2000, are
hereby  incorporated  by  reference.

ITEM  2.     PROPERTIES

     A  list  of  Energizer's  principal plants and facilities as of the date of
filing  follows.  Energizer  believes  that  such  plants and facilities, in the
aggregate,  are  adequate,  suitable  and of sufficient capacity for purposes of
conducting  its  current  business.

<TABLE>
<CAPTION>
<S>                                    <C>
NORTH AMERICA                           EUROPE
Asheboro, NC (2)                        Caudebec Les Elbeuf, France (1)(5)
Bennington, VT                          La Chaux-de-Fonds, Switzerland
Garretsville, OH                        Slany, Czech Republic  (1)
Marietta, OH                            Tanfield Lea, U.K. (1)
Maryville, MO
St. Albans, VT                          AFRICA
Tecamec, Mexico                         Alexandria, Egypt
Walkerton, Ontario, Canada (5)          Nakuru, Kenya (4)
Westlake, OH (3)

                                        ADMINISTRATIVE AND
ASIA                                    EXECUTIVE OFFICES
Bogang, People's Republic of China (1)  St. Louis, Missouri (1)
Mandaue Cebu, Philippines               Chesterfield, Missouri (1)
Ekala, Sri Lanka
Cimanggis, Indonesia
Johor, Malaysia
Jurong, Singapore
Tianjin, People's Republic of China
</TABLE>


In  addition  to the properties identified above, Energizer and its subsidiaries
own  and/or  operate  sales  offices,  regional  offices,  storage  facilities,
distribution  centers  and  terminals  and  related  properties.

(1)  Leased          (2)  Two  plants          (3)Research  facility
(4)  Less  than  20%  owned  interest          (5)  Bulk  packaging, labeling or
distribution

ITEM  3.     LEGAL  PROCEEDINGS

-     On  April 8, 1998, Zinc Products Company, a division of Alltrista Corp., a
supplier  of  zinc  cans  used  in  the  manufacture of batteries, filed suit in
federal  district court for the Eastern District of Tennessee against Energizer,
claiming  breach of contract when Energizer closed its Fremont, Ohio plant.  The
plaintiff  claims  lost profits and other damages of approximately $2.8 million.
The  case  has  been  set  for  trial  in  January,  2001.

-     The  U.S.  Patent  Office  has  awarded  priority to Strategic Electronics
(Energizer's  exclusive  licensor)  over  Duracell  in  the  patent interference
relating  to  the  on-label battery tester.  Duracell is expected to appeal.  An
earlier  decision,  which denied Energizer's separate patent claims and those of
Eastman  Kodak Company (which are licensed to Duracell) has been appealed to the
federal  district court for Washington, D.C. on February 2, 1998.  Kodak filed a
similar  appeal,  naming  Energizer  as  a  defendant on January 29, 1998.  In a
related  matter,  Strategic  Electronics  filed  a  declaratory judgment suit on
September  9,  1999  in  the  federal district court for the Central District of
California  seeking  additional  payments  of approximately $1 million under the
license.  Energizer filed a motion to dismiss which was granted in the spring of
2000.

     Energizer  is  a  party  to  a number of other legal proceedings in various
state,  federal  and  foreign jurisdictions.  Many of these legal matters are in
preliminary  stages,  involve complex issues of law and fact and may proceed for
protracted periods of time.  The amount of alleged liability, if any, from these
proceedings  cannot  be  determined with certainty.  However, based upon present
information,  Energizer  believes  that  its ultimate liability, if any, arising
from

-     pending  legal  proceedings,
-     asserted  legal  claims  and
-     known  potential  legal  claims  which  are  likely  to  be  asserted,

should  not  be  material to Energizer's financial position, taking into account
established  accruals  for  estimated  liabilities.  These liabilities, however,
could  be  material  to  results  of  operations  or cash flows for a particular
quarter  or  annual  period.

     See  also  the  discussion  captioned  "Governmental  Regulation  and
Environmental  Matters"  under  Item  1  above.

ITEM  4.          SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS.

     Not  applicable.

ITEM  4A     EXECUTIVE  OFFICERS  OF  THE  REGISTRANT.

     A list of the executive officers of Energizer and their business experience
follows.  Ages  shown  are  as  of  December  31,  2000.

J. Patrick Mulcahy - Chief Executive Officer of Energizer since March 2000.  Mr.
Mulcahy joined Ralston in 1968 and has served as Chairman of the Board and Chief
Executive  Officer  of  Eveready  Battery Company, Inc. since 1987.  Mr. Mulcahy
served  as  co-Chief Executive Officer and co-President of Ralston from October,
1997  to  June,  1999.  He  served  as  Ralston's  Vice  President and Director,
Corporate  Strategic  Planning  and  Administration  1984-86;  Division  Vice
President,  Strategic Planning 1981-84; and Division Vice President, Director of
Marketing,  Grocery  Products  Group,  1980-81.  Age:  56.

William  P.  Stiritz  -  Chairman  of  the  Board  of Directors of Energizer and
Chairman of the Management Strategy and Finance Committee since March 2000.  Mr.
Stiritz  joined  Ralston  in  1963  and  served  as  Chief Executive Officer and
President  of  Ralston  from  1982  until his retirement in 1997.  He has served
since 1982 as Chairman of the Board of Directors of Ralston.  Since 1998, he has
also  served  as Chief Executive Officer, President and Chairman of the Board of
Agribrands  International,  Inc.  Age:  66.

Patrick  C. Mannix - President of Energizer since March 2000.  Mr. Mannix joined
the  Eveready  Battery  Division  of  Union Carbide Corporation in 1963, and has
served  as  President  of Eveready Battery Company, Inc. since 1998.  Mr. Mannix
served  as  President of Eveready Battery Company, Inc., Specialty Business from
1995-98,  as  Executive  Vice President, Eveready Battery Company, International
from  1991-95,  and  as Area Chairman, Asia Pacific operations, Eveready Battery
Company  from  1985-91.  Age:  55.

Randy J. Rose - President and Chief Operating Officer - North America and Europe
since  September of 2000. Mr. Rose served as Executive Vice President, Worldwide
Sales and Marketing of Energizer from March to September, 2000.  Mr. Rose joined
Ralston in 1986 and served as Executive Vice President, Golden Products Division
of  Ralston from 1997 until April 1998, then served as Vice President, Worldwide
Sales  and  Asia  Pacific  Operating  Officer  of the Pet Products International
Division  of  Ralston  until May, 1999, when he joined Eveready Battery Company,
Inc.,  serving as Executive Vice President, Sales and Marketing. Mr. Rose served
as  Vice  President  and Director of the Customer Development Group of Ralston's
Pet  Products  Group  from  1993-97.  Age:  46.

Ward  M.  Klein - President and Chief Operating Officer - Asia Pacific and PanAm
since  September,  2000.  Mr.  Klein served as Vice President - Asia Pacific for
Energizer  from  March  to  September,  2000.  Mr.  Klein  joined Ralston Purina
Company  in  1979  and served as Vice President and Area Chairman, Asia Pacific,
Africa  and  Middle  East  for  battery  operations  from  1998 to 2000, as Area
Chairman,  Latin America from 1996-98, as Vice President, General Manager Global
Lighting  Products,  1994-96  and as Vice President of Marketing, 1992-94.  Age:
45.

Daniel  J.  Sescleifer  -  Executive  Vice  President,  Finance  and  Control of
Energizer  since  October,  2000.  Mr.  Sescleifer  served as Vice President and
Treasurer  of  Solutia  Inc.  from  July-October,  2000,  as  Vice President and
Treasurer  of  Ralcorp  Holdings,  Inc,  from  1996  to  2000,  and as Director,
Corporate  Finance  of  Ralcorp  Holdings,  Inc.  from  1994  to 1996.  Age: 38.

Harry L. Strachan - Vice President and General Counsel of Energizer since March,
2000.  Mr.  Strachan  joined  Eveready  Battery  Company,  Inc. in 1987, and has
served as Vice President, General Counsel and Secretary of that subsidiary since
1987.  Age:  59.

Peter  J.  Conrad  -  Vice  President, Human Resources of Energizer since March,
2000.  Mr.  Conrad  joined  Eveready Battery Company, Inc. in 1997 and served as
Vice  President,  Human  Resources from 1997 to 2000.  Mr. Conrad served as Vice
President,  Human  Resources  for  Protein  Technologies  International, Inc., a
former  subsidiary  of  Ralston  Purina  Company,  from  1995-97.  Age:  40.

Joseph  McClanathan  -  Vice  President, North America of Energizer since March,
2000.  Mr.  McClanathan  joined  the  Eveready Battery division of Union Carbide
Corporation  in 1974 and served as Vice President and Chairman, North America of
Eveready  Battery  Company,  Inc.  from  1999  to 2000, as Vice President, Chief
Technology  Officer  from  1996 to 1999, and as Vice President, General Manager,
Energizer  Power  Systems  division  from  1993  to  1996.  Age:  48.

Kapila Gunawardana - Vice President, Pan Am of Energizer since March, 2000.  Mr.
Gunawardana joined the Eveready Battery division of Union Carbide Corporation in
1968  and  served as Vice President and Area Chairman, Pan Am from 1998 to 2000,
as  Managing  Director,  Eveready  de  Mexico  from 1996-98, and as Area Finance
Director,  Pan  Am  Division of Eveready Battery Company from 1993-96.  Age: 59.

Luis  Plana  - Vice President, Europe of Energizer since March, 2000.  Mr. Plana
joined  Eveready  Battery Company, Inc. in 1985 and served as Vice President and
Area  Chairman,  Europe from 1997 to 2000, as Vice Chairman, Europe for Eveready
Battery  Company  from 1996-97, and as Managing Director from 1993-96.  Age: 56.

Steven  Sanborn  -  Vice  President,  Technology, Research and Development since
March,  2000.  Mr.  Sanborn  joined  Eveready  Battery Company, Inc. in 1993 and
served  as Vice President and Chief Technology Officer for Eveready from 1999 to
2000,  as  Vice President of Technology and Engineering for Eveready's Energizer
Power  Systems division from 1993 to 1997, and as Vice President, Technology for
Eveready  itself  from  1997  to  1999.  Age:  55.

Joseph  J. Tisone - Vice President, Global Manufacturing since March, 2000.  Mr.
Tisone  joined  the  Eveready  Battery  division of Union Carbide Corporation in
1976,  and  served  as  Vice President, Global Manufacturing of Eveready Battery
Company, Inc. from 1998 to 2000, as Vice President/General Manager of Eveready's
Energizer  Power  Systems  division  from  1997  to 1998, and as Vice President,
Production  of  that  division  from  1993  to  1997.  Age:  47.

Robert  K.  Zimmermann  -  Vice President, Global Lighting Products of Energizer
since  May,  2000.  Mr.  Zimmermann  joined  Ralston  Purina Company in 1971 and
served  as Vice President, Global Lighting Products of Eveready Battery Company,
Inc. from 1999 to 2000, as Vice President, Pet Products, with responsibility for
Europe, the Middle East and Africa from 1993 to 1999, and as Vice President, Pet
Products  -  Latin  America and Vice President, International Pet Food Marketing
from  1992-1993.  Age:  51

Mark  Schafale  -  Vice President and Controller of Energizer since March, 2000.
Mr.  Schafale joined Ralston Purina Company in 1992 and served as Vice President
and  Director,  Internal  Audit  for Ralston from 1996 to 2000, and as Director,
Financial  Accounting  from  1994-96.  Age:  40.

William  C.  Fox  - Vice President and Treasurer of Energizer since March, 2000.
Mr.  Fox  joined  Ralston  Purina Company in 1989 and served as Director, Global
Finance  for  Ralston  from  1995  to  2000.  Age:  38.

Timothy L. Grosch - Secretary of Energizer since March, 2000.  Mr. Grosch joined
Ralston  Purina Company in 1985 and served as Deputy General Counsel for Ralston
from  1996 to 2000, and as Senior Counsel - Securities from 1994 - 96.  Age: 46.

ITEM  5.          MARKET  FOR  REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER
MATTERS.

     Energizer's  common  stock  ("ENR  Stock")  is listed on the New York Stock
Exchange.  As  of November 24, 2000, there were 21,016 shareholders of record of
the  ENR  Stock.

     The following table sets forth range of market prices for the ENR Stock for
the  period  from  April  1,  2000  until September 30, 2000.  No dividends were
declared  or  paid on the ENR Stock during that period, and the Company does not
currently  intend  to  pay  dividends  during  fiscal  year  2001.

                               MARKET PRICE RANGE

Third  Quarter     $14.875  --  $23.1875
Fourth  Quarter     $18.6875  --  $24.50


There  have  been  no  unregistered  offerings of registrant's equity securities
during  the  period  covered  by  this  Annual  Report  on  Form  10-K.

ITEM  6.          SELECTED  FINANCIAL  DATA.

     The  "ENERGIZER  HOLDINGS,  INC.  -  SUMMARY  SELECTED HISTORICAL FINANCIAL
INFORMATION"  appearing  on  page  19  of the Energizer Holdings, Inc. Year 2000
Annual  Report  is  hereby  incorporated  by  reference.

ITEM  7.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF FINANCIAL CONDITION AND
RESULTS  OF  OPERATIONS.

     Information  appearing  under  "ENERGIZER  HOLDINGS,  INC.-MANAGEMENT'S
DISCUSSION  AND  ANALYSIS  OF  RESULTS OF OPERATIONS AND FINANCIAL CONDITION" on
pages 10 through 18 and the information appearing under "ENERGIZER HOLDINGS, INC
-  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - SEGMENT INFORMATION" on pages 44
through  45  of  the  Energizer Holdings, Inc. Year 2000 Annual Report is hereby
incorporated  by  reference.

ITEM  7A.     QUANTITATIVE  AND  QUALITATIVE  DISCLOSURE  ABOUT  MARKET  RISK.

     Information  appearing  under  "  ENERGIZER  HOLDINGS,  INC.-MANAGEMENT'S
DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF  OPERATIONS AND FINANCIAL CONDITION -
MARKET  RISK  SENSITIVE INSTRUMENTS AND POSITIONS" on pages 17 through 18 of the
Energizer  Holdings,  Inc.  Year  2000  Annual  Report is hereby incorporated by
reference.

ITEM  8.          FINANCIAL  STATEMENTS  AND  SUPPLEMENTARY  DATA.

     The  consolidated  financial  statements  of Energizer and its subsidiaries
appearing  on  pages  21  through  45,  together  with  the  report  thereon  of
PricewaterhouseCoopers  LLP  on  page  20,  and  the  supplementary  data  under
"ENERGIZER  HOLDINGS,  INC.  -  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS -
QUARTERLY  FINANCIAL STATEMENTS" on page 46 of the Energizer Holdings, Inc. Year
2000  Annual  are  hereby  incorporated  by  reference.

ITEM  9.     CHANGES  IN  AND  DISAGREEMENTS  WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL  DISCLOSURE.

          Not  applicable.

                                    PART III

ITEM  10.     DIRECTORS  OF  THE  REGISTRANT.

     The  information  regarding directors on pages 3 through 6, and information
appearing  under  "Compliance  With  Section  16(a) Reporting" on page 2, of the
Energizer  Holdings,  Inc.  Notice  of  Annual Meeting and Proxy Statement dated
December  13,  2000  is  hereby  incorporated  by  reference.

ITEM  11.     EXECUTIVE  COMPENSATION.

     Information  appearing  under  "Executive Compensation" on pages 16 through
22,  "Nominating  and  Executive  Compensation  Committee  Report  on  Executive
Compensation"  on  pages  22 through 26, "Performance Graph" on page 28, "Common
Stock Ownership of Directors and Executive Officers" on pages 14 through 15, and
the  remuneration  information under "Board of Directors Standing Committees" on
page  4  and  "Director  Compensation"  on  pages  5  through 6 of the Energizer
Holdings,  Inc.  Company  Notice  of  Annual  Meeting  and Proxy Statement dated
December  13,  2000  is  hereby  incorporated  by  reference.

ITEM  12.     SECURITY  OWNERSHIP  OF  CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The  discussion  of  the  security  ownership  of  certain beneficial owners and
management  appearing under "Stock Ownership Information" on page 14 and "Common
Stock  Ownership  of Directors and Executive Officers" on pages 14 through 15 of
the  Energizer Holdings, Inc. Notice of Annual Meeting and Proxy Statement dated
December  13,  2000  is  hereby  incorporated  by  reference.

ITEM  13.     CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS.

     Information  appearing  under  "Certain  Relationships  and  Related
Transactions"  on  pages  6  through 8 of the Energizer Holdings, Inc. Notice of
Annual  Meeting  and  Proxy  Statement  dated  December  13,  2000,  is  hereby
incorporated  by  reference.

                                     PART IV

ITEM  14.     EXHIBITS,  FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.

1.     Documents  filed  with  this  report:

a.     Financial  statements  previously  incorporated by reference under Item 8
herein.

     -Report  of  Independent  Accountants.
-Consolidated  Statement of Earnings -- for years ended September 30, 2000, 1999
and  1998.
     -Consolidated Balance Sheet -- for years ended September 30, 2000 and 1999.
-Consolidated  Statement  of  Cash  Flows -- for years ended September 30, 2000,
1999,  and  1998.
-Consolidated  Statement of Shareholders Equity -- for years ended September 30,
2000,  1999,  1998  and  1997.
 .
     -Notes  to  Financial  Statements.

b.     Reports  on  Form  8-K.

No  reports  on Form 8-K were filed during the last quarter of fiscal year 2000.

c.     Exhibits  Required  by  Item  601  of  Regulation  S-K

(i)   The  following  exhibits (listed by numbers corresponding to the Exhibit
Table  of  Item  601  in Regulation S-K) are hereby incorporated by reference to
Energizer's  Post-Effective  Amendment  No.  1 to Form 10, filed April 19, 2000.

2     Agreement  and  Plan  of  Reorganization
3(i)  Articles  of  Incorporation  of  Energizer  Holdings,  Inc.
3(ii) By-Laws  of  Energizer  Holdings,  Inc.
4     Rights  Agreement  between  Energizer Holdings, Inc. and Continental Stock
Transfer  &  Trust  Company,  as  Rights  Agent
10(i) Debt Assignment, Assumption and Release Agreement by and among Ralston
Purina  Co.,  Energizer  Holdings,  Inc.  and  Bank  One,  N.A.
10(ii) 364-Day Credit Agreement between Ralston Purina Company and Bank One,
N.A.
10(iii) 5-Year Revolving Credit Agreement between Ralston Purina Company and
Bank  One,  N.A.
10(iv)  Energizer  Holdings,  Inc.  Private  Placement  Note  Purchase
Agreement
10(v)   Asset  Securitization  Receivable Purchase Agreement between Energizer
Holdings,  Inc.,  Falcon  Asset  Securitization  Corporation  and Bank One, N.A.
10(vi)     Bridge  Loan  Agreement  No.  1
10(vii)     Bridge  Loan  Agreement  No.  2
10(viii)     Tax  Sharing  Agreement
10(ix)     Bridging  Agreement
10(x)     Lease  Agreement
10(xi)     Intellectual  Property  Agreement
10(xii)     Energizer  Holdings,  Inc.  Incentive  Stock  Plan*
10(xii)     Form  of  Change  of  Control  Employment  Agreements*
10(xiv)  Form  of  Indemnification  Agreements  with  Executive  Officers  and
Directors  *
10(xv)     Executive  Savings  Investment  Plan*
10(xvi)Executive  Health  Insurance  Plan*
10(xvii)Executive  Long  Term  Disability  Plan*
10(xviii)Financial  Planning  Plan*
10(xiv)     Executive  Group  Personal  Excess  Liability  Insurance  Plan*
10(xx)     Executive  Retiree  Life  Plan*
10(xxi)Supplemental  Executive  Retirement  Plan*
10(xxii)Form  of  Retention  Letter*

(ii)  The  following  exhibits  (listed  by numbers corresponding to the Exhibit
Table  of  Item  601  in Regulation S-K) are hereby incorporated by reference to
Energizer's  Quarterly  Report  on Form 10Q for the Quarter Ended June 30, 2000.

10(i)   Form  of  Non-Qualified  Stock  Option  dated  May  8, 2000*
10(ii)  Form  of  Non-Qualified  Stock  Option  dated  May 8, 2000*
10(iii) Form  of  Non-Qualified  Stock  Option  dated May 8, 2000*
10(iv)  Form of 2000 Restricted Stock Equivalent Award Agreement dated May 8,
2000*
10(v)   Form  of 2000 Restricted Stock Equivalent Award Agreement dated May 8,
2000*
10(vi)  Form of 2000 Restricted Stock Equivalent Award Agreement dated May 8,
2000*

(iii)  The  following  exhibits  (listed by numbers corresponding to the Exhibit
Table  of  Item  601  in  Regulation  S-K)  are  filed  with  this  report.

10(i)     Form  of  Non-Qualified  Stock  Option  dated September 18, 2000*
10(ii)    Form  of  2000  Restricted  Stock  Equivalent  Award  Agreement dated
September  18,  2000*
10(iii)   Energizer  Holdings,  Inc. Non-Qualified Deferred Compensation Plan,
as  amended  September  18,  2000*
10(iv)    Form  of  Letter  for  Deferral  of 2000 Bonus Award dated 3/30/00*
10(v)     Form  of  Letter  for  Deferral  of  2000 Bonus Award dated 12/6/00*
10(vi)    Form  of  Indemnification  Agreement*
13        Pages 10 to 48 of the Energizer Holdings, Inc. Year 2000 Annual Report
which  are  incorporated  herein  by  reference,  are  filed  herewith.
21        Subsidiaries  of  Registrant
23        Consent  of  Independent  Accountants.
27        Financial  Data  Schedule  for  2000  Annual  Period

*Denotes  a  management  contract  or  compensatory  plan  or  arrangement.

                        FINANCIAL STATEMENT AND SCHEDULES

     The  consolidated  financial  statements  of  the  Registrant  have  been
incorporated  by  reference  under  Item  8.  Financial  statements  of  the
Registrant's  50%  or  less  owned  companies  have been omitted because, in the
aggregate,  they  are  not  significant.

     Schedules not included have been omitted because they are not applicable or
the  required information is shown in the financial statements or notes thereto.

                                   SIGNATURES

     Pursuant  to  the  requirements  of  Section  13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its  behalf  by  the  undersigned,  thereunto  duly  authorized.

                                      ENERGIZER  HOLDINGS,  INC.



                                      By:/s/  J. Patrick Mulcahy
                                         --------------------------
                                         J. Patrick Mulcahy
                                         Chief Executive Officer


Date:     December  15,  2000

<PAGE>

SIGNATURE     TITLE
---------     -----


/s/  Daniel J. Sescleifer
---------------------------
Daniel J. Sescleifer
Executive Vice President, Finance and Control


/s/  Mark A. Schafale
-----------------------
Mark A. Schafale
Controller


/s/  William P. Stiritz
-------------------------
William P. Stiritz
Chairman of the Board of Directors


/s/  William H. Danforth
--------------------------
Dr. William H. Danforth
Director


/s/  F. Sheridan Garrison
---------------------------
F. Sheridan Garrison
Director


/s/  R. David Hoover
----------------------
R. David Hoover
Director


/s/  H. Fisk Johnson
----------------------
H. Fisk Johnson
Director


/s/  Richard A. Liddy
-----------------------
Richard A. Liddy
Director


/s/  Joe R. Micheletto
------------------------
Joe R. Micheletto
Director


/s/  Robert A. Pruzan
-----------------------
Robert A. Pruzan
Director





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