Acme United Corporation Acquires the Assets of Hawktree Solutions, Inc.
September 27 2023 - 12:43PM
Acme United Corporation (NYSE American: ACU) today announced that
it has acquired selected assets of Hawktree Solutions, Inc., a
supplier of first aid and survival kits, medical supplies, and
training. The Company was in receivership and the purchase price
was approximately $1.0 million.
Hawktree has the exclusive license for first aid, safety, and
survival products with the Canadian Red Cross. Annual revenues in
prior years averaged approximately $4.0 million. The business will
be operated from our facilities in Laval, Canada. The acquisition
is expected to be accretive starting in the fourth quarter of
2023.
Walter C. Johnsen, Chairman and CEO, said, “Hawktree Solutions
will expand our product line of first aid and survival items that
are focused on devastating fires, floods, and earthquakes. We
intend to work closely with the Canadian Red Cross to deliver
outstanding products to those impacted by natural disasters. In the
short term, we will be re-activating the Hawktree website, filling
existing orders, and working with customers on new programs.”
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®, 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.
These risks and uncertainties 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, including the impact
on the Company’s suppliers and customers; (iii) additional
disruptions in the Company’s supply chains, whether caused by
pandemics, natural disasters, or otherwise, including trucker
shortages, port closures and delays, and delays with container
ships themselves; (iv) the continuing adverse impact of inflation,
including product costs, and interest rates; (v) potential adverse
effects on the Company, its customers, and suppliers resulting from
the war in Ukraine; (vi) labor related costs the Company has and
may continue to incur, including costs of acquiring and training
new employees and rising wages and benefits; (vii) currency
fluctuations including, for example, the fluctuation of the dollar
against the euro; (viii) the Company’s ability to effectively
manage its inventory in a rapidly changing business environment;
(ix) changes in client needs and consumer spending habits; (x) the
impact of competition; (xi) the impact of technological changes
including, specifically, the growth of online marketing and sales
activity; (xii) the Company’s ability to manage its growth
effectively, including its ability to successfully integrate any
business it might acquire; (xiii) 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 (xiv) 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 Corporation |
1 Waterview Drive |
Shelton, CT 06484 |
|
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Phone: (203) 254-6060 |
FAX: (203) 254-6521 |
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