RPM International Inc. has recently announced that the company’s Rust-Oleum group has acquired the provider of Concrobium mold and mildew control products, Siamons International Inc., reports have confirmed. Apparently, financial terms regarding this transaction, which is anticipated to be accretive to earnings within one year, are yet to be disclosed.
According to a press release by RPM, Rust-Oleum would strengthen the retail presence of Concrobium as part of this acquisition. The group would also introduce it to new market categories, as well as leverage its customer base for accelerating distribution of other specialty cleaning brands sold in Canada. Furthermore, Rust-Oleum would seemingly expand the company on an international scale.
Chairman and Chief Executive Officer of RPM International Inc., Frank C. Sullivan, said in a statement that the Concrobium brand is a superb strategic fit which would expand the specialty cleaning products portfolio of Rust-Oleum. It will complement its existing Roto-Rooter, Mean Green, Krud Kutter, Moldex, Jomax and Whink brands and result in enhanced supply chain efficiencies, as well as significant cost synergies.
Sullivan further stated that the addition of Concrobium would largely enhance the capabilities of Rust-Oleum in offering one-stop shopping solution to its retail partners, eventually making the company a leader in the specialty cleaning market.
Sources familiar with the matter stated that the Concrobium brand provides a broad range of non-toxic specialty mold cleaning solutions which could be used on non-porous and porous surfaces both, including drywall, fabrics and wood. Concrobium is primarily sold in big-box retailers, such as Menards, Lowe’s and The Home Depot.
Records show that among all the products offered by Concrobium, Mold Control is the leading solution which eliminates mold, prevents its growth in the future and cleans mold stains in a single step, without the use of ammonia, bleach or VOCs.
