Clarke Inc. Invests in Leading Canadian Home & Garden Business


    HALIFAX, Sept. 28 /CNW/ - Clarke Inc. ("Clarke") announced today that a
company formed by Clarke and RoyCap Merchant Banking Group ("Roycap") has
agreed to acquire the Canadian division of Spectrum Brands, Inc.'s Home &
Garden business, which operates under the name Nu-Gro. This business is a
leading supplier in the Canadian Home & Garden industry, with sales during
fiscal 2006 of approximately $100 million across a broad range of product
categories, including fertilizer, grass seed, controls and ice melt, under
brand names such as CIL, Wilson and Alaskan Ice Melter. The transaction is
expected to close on or around October 31, 2007, subject to certain regulatory
    "We are very pleased to invest in a business that is a leader in the
Canadian Home & Garden industry," said Rob Normandeau, Chief Operating Officer
of Clarke. "We have worked hard with management and Roycap on a plan to
develop the business," he added, "and we are excited by its prospects."

    Spectrum Brands

    Spectrum Brands is a global consumer products company and a leading
supplier of batteries, portable lighting, lawn and garden products, household
insect control, shaving and grooming products, personal care products and
specialty pet supplies. Spectrum Brands' products are sold by the world's top
25 retailers and are available in more than one million stores in
120 countries around the world. Headquartered in Atlanta, Georgia, Spectrum
Brands generated net sales of $2.5 billion in fiscal 2006 and has
approximately 7,500 employees worldwide. The company's stock trades on the New
York Stock Exchange under the symbol SPC.

    About Roycap

    RoyCap Merchant Banking Group is a division of Royal Capital Management
Corp., a private Toronto based investment company. RoyCap specializes in
returning companies to sustainable, long-term profitability with by making
value added investments and combining hands-on restructuring expertise with a
strong, committed management team to successfully rebuild investee companies
and return them to profitable growth.

    About Clarke

    Clarke Inc. is the Halifax-based parent company of a number of
wholly-owned operating companies and divisions, and is an activist catalyst
investor with a diversified portfolio of strategic and opportunistic
investments. Clarke's operating companies are in the transportation services
business. From time to time, Clarke also participates in joint ventures when
they offer the opportunity to create shareholder value. Led by George Armoyan
and an entrepreneurial team of professionals focused on uncovering and
creating value, Clarke invests in undervalued businesses and participates
actively where necessary to enhance performance and increase returns. In 2006
alone, Clarke delivered a shareholder return on investment, including
dividends, of 33%. Clarke's securities trade on the Toronto Stock Exchange
(CKI, CKI.DB, CKI.DB.A); for more information about Clarke, please visit our
website at


    Clarke's investment activity is influenced by timing and market
conditions, its ability to uncover hidden value and a variety of risks,
including market, investment and economic risks, and therefore there can be no
assurance that investment activities will result in continuing investment

    Forward-Looking Statements

    Certain statements in this news release may contain forward-looking
statements about future operations, financial results, objectives and
strategies of the Company. Forward-looking statements are typically identified
by the words "believe", "expect", "anticipate", "intend", "estimate", and
similar expressions. These statements are necessarily based on estimates and
assumptions that are inherently subject to risks and uncertainties, many of
which are beyond the Clarke's control.
    Actual results may differ materially from expected results if known or
unknown risks affect the business, or if estimates or assumptions used in the
preparation of the consolidated financial statements and information and
analysis in this news release turn out to be inaccurate. As a result, there
can be no guarantee that any forward-looking statement will materialize.
Management disclaims any intention, and assumes no obligation, to update any
forward-looking statement, even if new information becomes available, as a
result of future events or for any other reason. Readers are urged to consider
these and other such factors carefully, and not place undue emphasis on the
Clarke's forward-looking statements.
    %SEDAR: 00009934E

For further information:

For further information: Rob Normandeau, Chief Operating Officer, Clarke
Inc., (902) 442-3420

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