Acme United Corporation Acquires Assets of First Aid Central
January 07 2020 - 12:28PM
Acme United Corporation (NYSE MKT:ACU) today announced that its
Canadian subsidiary has acquired the assets of First Aid Central, a
Canadian first aid and safety supplier. The company had revenues in
2019 of approximately C$4.3 million. The purchase price was not
disclosed. The acquisition is expected to be accretive during 2020.
Based in Laval, Canada and operating since 2007, First Aid
Central produces and sells a complete line of first aid kits,
refills, and safety products to a broad range of industries and end
users. Its products meet federal Health Canada and provincial
regulatory requirements.
Acme United has been in the first aid and safety business in the
U.S. for over 40 years, selling under the First Aid Only,
PhysiciansCare and Pac-Kit brands. It has a customer base of
safety and industrial distributors, service fleets, mass market
retailers, and office supply superstores and dealers.
Walter C. Johnsen, Chairman and CEO of Acme United, said “We are
delighted to bring First Aid Central and its talented team of
employees into our organization. We intend to use the Laval
location to expand production. We believe our global
customers will benefit from local production and service of our
product line in Canada.”
Mr. Johnsen added that Acme United’s first aid and safety
segment has been growing steadily due to corporate emphasis on
employee safety, regulations that require first aid kits, and new
products that control bleeding as well as Acme United’s SafetyHub
replenishment technology.
ACME UNITED CORPORATION is a leading worldwide
supplier of innovative first aid, safety, and cutting products to
the school, home, office, hardware and industrial markets. Its
leading brands include First Aid Only, PhysiciansCare, Pac-Kit,
Spill Magic, Westcott, Clauss, Camillus, Cuda, and DMT.
Forward-looking statements in this press
release, including without limitation, statements related to the
Company’s plans, strategies, objectives, expectations, intentions
and adequacy of resources, are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, the following: (i) changes in the Company’s
plans, strategies, objectives, expectations and intentions,
which may be made at any time at the discretion of the Company;
(ii) the impact of uncertainties in global economic conditions,
including the impact on the Company’s suppliers and customers;
(iii) changes in client needs and consumer spending habits; (iv)
the impact of competition and technological changes on the Company;
(v) the Company’s ability to manage its growth effectively,
including its ability to successfully integrate any business it
might acquire; (vi) currency fluctuations; (vii) increases in the
cost of borrowings resulting from rising interest rates; (viii)
international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; and (ix)
other risks and uncertainties indicated from time to time in the
Company’s filings with the Securities and Exchange Commission.
CONTACT:Paul G. DriscollAcme United
Corporation55 Walls DriveFairfield, CT 06824Phone: (203)
254-6060
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