RPM
International Inc. (NYSE: RPM) today announced that its Rust-Oleum
group has acquired the Mean
Green branded line of specialty cleaning products and the exclusive
North American licensing for Roto-Rooter
branded drain care products from CR Brands, which is based in
Cincinnati, Ohio. These product lines have annual net sales of
approximately $20 million. Terms of the transaction, which is expected
to be accretive to earnings within one year, were not disclosed.
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Mean Green Family of Products (Photo: Business Wire)
Mean Green is a leading heavy-duty cleaner, with a broad array of
products for mold, mildew, bacteria, grease and other uses. Roto-Rooter
is the number one name in plumbing services, lending tremendous brand
strength behind its line of drain care products that include hair clog
remover, gel clog remover, build up remover and septic tank treatment.
These products have broad national distribution and can be found in big
box retailers, such as Home Depot, Lowe’s, Wal-Mart and Menards, as well
as grocers and other retailers. They will be integrated into
Rust-Oleum's current portfolio of cleaning and drain care products.
“Rust-Oleum has made a concentrated effort to build and grow its
platform of cleaners, which initially began with the Jomax brand and has
since expanded to include the well-recognized brands of Krud-Kutter,
Whink and Moldex. Mean Green and Roto Rooter products are excellent
strategic fits that add more dimension to the growing portfolio,” stated
Frank C. Sullivan, RPM chairman and CEO. “Utilizing Rust-Oleum’s sales
and distribution network will significantly increase the reach of these
leading products. At the same time, we expect to leverage their
connections to achieve greater penetration of Rust-Oleum’s brands in
grocery and other retail channels.”
About RPM
RPM International Inc. owns subsidiaries that are world leaders in
specialty coatings, sealants, building materials and related services
across three segments. RPM’s industrial products include roofing
systems, sealants, corrosion control coatings, flooring coatings and
other construction chemicals. Industrial companies include Stonhard,
Tremco,
illbruck,
Carboline,
Flowcrete,
Euclid
Chemical and RPM
Belgium Vandex. RPM's consumer products are used by professionals
and do-it-yourselfers for home maintenance and improvement and by
hobbyists. Consumer brands include Rust-Oleum,
DAP,
Zinsser,
Varathane
and Testors.
RPM’s specialty products include industrial cleaners, colorants,
exterior finishes, specialty OEM coatings, edible coatings, restoration
services equipment and specialty glazes for the pharmaceutical and food
industries. Specialty segment companies include Day-Glo,
Dryvit,
RPM
Wood Finishes, Mantrose-Haeuser,
Legend
Brands, Kop-Coat
and TCI.
Additional details can be found at www.rpminc.com
and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president –
investor relations, at 330-273-5090 or bslifstein@rpminc.com.
This press release contains “forward-looking statements” relating to our
business. These forward-looking statements, or other statements made by
us, are made based on our expectations and beliefs concerning future
events impacting us, and are subject to uncertainties and factors
(including those specified below) which are difficult to predict and, in
many instances, are beyond our control. As a result, our actual results
could differ materially from those expressed in or implied by any such
forward-looking statements. These uncertainties and factors include (a)
global markets and general economic conditions, including uncertainties
surrounding the volatility in financial markets, the availability of
capital and the effect of changes in interest rates, and the viability
of banks and other financial institutions; (b) the prices, supply and
capacity of raw materials, including assorted pigments, resins, solvents
and other natural gas- and oil-based materials; packaging, including
plastic containers; and transportation services, including fuel
surcharges; (c) continued growth in demand for our products; (d) legal,
environmental and litigation risks inherent in our construction and
chemicals businesses and risks related to the adequacy of our insurance
coverage for such matters; (e) the effect of changes in interest rates;
(f) the effect of fluctuations in currency exchange rates upon our
foreign operations; (g) the effect of non-currency risks of investing in
and conducting operations in foreign countries, including those relating
to domestic and international political, social, economic and regulatory
factors; (h) risks and uncertainties associated with our ongoing
acquisition and divestiture activities; (i) risks related to the
adequacy of our contingent liability reserves; and (j) other risks
detailed in our filings with the Securities and Exchange Commission,
including the risk factors set forth in our Annual Report on Form 10-K
for the year ended May 31, 2018, as the same may be updated from time to
time. We do not undertake any obligation to publicly update or revise
any forward-looking statements to reflect future events, information or
circumstances that arise after the date of this release.
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