MEDINA, Ohio--(BUSINESS WIRE)--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.
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.”
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 firstname.lastname@example.org.
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.