Acme United Corporation Acquires the Assets of Safety Made
June 01 2022 - 12:07PM
Acme United Corporation (NYSE American: ACU) today announced that
it has acquired the assets of Live Safely Products, LLC. (d/b/a
“Safety Made”), a leading manufacturer of first aid kits for the
promotional products industry.
Safety Made had revenues in 2021 of approximately $4.9 million
and EBITDA of approximately $1.2 million. The purchase price was
not disclosed. The acquisition is expected to be accretive
immediately. The company is located in Keene, New Hampshire and
employs 24 people.
Walter C. Johnsen, Chairman and CEO, said, “We believe the
acquisition of Safety Made provides a platform to expand sales of
personalized products to many of Acme United’s domestic and global
customers. Although its primary business today is in first aid, we
see opportunities in all our product ranges.
Mr. Johnsen said that he is excited that the founders and
management of Safety Made will be joining Acme United. He also
looks forward to welcoming all the employees to the Company and
building the business in Keene, NH.
Further information on Safety Made is available at its website
www.safetymade.com.
About Acme UnitedACME UNITED
CORPORATION is a leading worldwide supplier of innovative
safety solutions and cutting technology to the school, home,
office, hardware, sporting goods and industrial markets. Its
leading brands include First Aid Only®, First Aid Central®,
PhysiciansCare®, Pac-Kit®,Spill Magic®, Westcott®, Clauss®,
Camillus®, Cuda®, DMT®, and Med-Nap. For more information, visit
www.acmeunited.com.
Forward Looking StatementsThe Company may from
time to time make written or oral “forward-looking statements”
including statements contained in this report and in other
communications by the Company, which are made in good faith
pursuant to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Such statements are based on our
beliefs as well as assumptions made by and information currently
available to us. When used in this document, words like “may,”
“might,” “will,” “except,” “anticipate,” “believe,” “potential,”
and similar expressions are intended to identify forward-looking
statements. Actual results could differ materially from our current
expectations.
Forward-looking statements in this report, 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 that may impact the Company’s business, operations
and financial results, including those risks and uncertainties
resulting from the global COVID-19 pandemic, future waves of
COVID-19, including through the Delta and Omicron variants and any
new variant strains of the underlying virus; any future pandemics;
the continuing effectiveness, global availability, and public
acceptance of existing vaccines; the effectiveness, availability,
and public acceptance of vaccines against variant strains of
potential new viruses; and the heightened impact the pandemic has
on many of the risks described herein, including, without
limitation, risks relating to disruptions in our supply chain, and
labor shortages, any of which could materially adversely impact the
Company’s ability to manufacture, source or distribute its
products, both domestically and internationally.
These risks and uncertainties further include, 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, whether caused by
COVID-19 or otherwise, including the impact on the Company’s
suppliers and customers; (iii) additional disruptions in the
Company’s supply chains, whether caused by COVID-19 or otherwise;
(iv) labor shortages and related costs the Company has and may
continue to incur, including costs of acquiring and training new
employees and rising wages and benefits; (v) the continuing adverse
impact of cost inflation; (vi) the Company’s ability to effectively
manage its inventory in a rapidly changing business environment,
including the additional inventory the Company acquired in
anticipation of supply chain disruptions and uncertainties; (vii)
changes in client needs and consumer spending habits; (viii) the
impact of competition; (ix) the impact of technological changes
including, specifically, the growth of online marketing and sales
activity; (x) the Company’s ability to manage its growth
effectively, including its ability to successfully integrate any
business it might acquire; (xi) currency fluctuations; (xii)
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 (xiii) other
risks and uncertainties indicated from time to time in the
Company’s filings with the Securities and Exchange Commission.
CONTACT: Paul G.
Driscoll Acme United
CorporationPhone: (203) 254-6060FAX: (203) 254-6521
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