Acme United buys First Aid Only for USD13.8m.
M2 EQUITYBITES-June 3, 2014-Acme United buys First Aid Only for USD13.8m
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3 June 2014 - US cutting, measuring and safety products supplier Acme United Corp (NYSEMKT:ACU) said it had bought domestic first aid kits, refills and safety products provider First Aid Only Inc for USD13.8m (EUR10m) in cash.
Vancouver, Washington-based First Aid Only supplies Smart Compliance first aid kits, refills and safety products for a broad range of industries. The company, with a staff of 100, generated sales of USD17.3m in 2013, according to the buyer's statement.
This transaction comes at a time when the first aid and safety segment is growing due to corporate focus on employees safety, regulations that require first aid kits and new products that control bleeding and treat burns, Acme's CEO, Walter Johnsen, said, adding that his company expects combined first aid, safety and over the counter medications sales this year to reach USD40m.
The acquisition is seen to be accretive during 2014.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jun 3, 2014|
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