ACU stock continues to attract buyers in a powerful uptrend after the company announced on January 7, 2020, that it acquired the assets of First Aid Central.
On January 7, 2020, Acme United Corporation (NYSE MKT:ACU) 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.