WD-40 acquires GT85 Limited
WD-40 Company has completed the acquisition of GT85 Limited, a United Kingdom-based company that markets the GT85 and SG85 brands of multi-purpose maintenance products.
"This acquisition, which includes the GT85 and SG85 brands, complements our multi-purpose maintenance products and will help us to build upon our strategy to develop new product categories for our WD-40 Specialist and WD-40 BIKE lines," said Garry Ridge, president and chief executive officer of WD-40 Company. "In addition, GT85 and WD-40 BIKE share a similar base of end-users who trust and respect both brands."
The GT85 products are currently sold primarily in the U.K., with additional sales in foreign markets including Spain, the United States, Australia and other European countries. The company's initial plans are to develop the GT85 brand further in the U.K.
The purchase of the GT85 Limited business is being made by the company's U.K. subsidiary, WD-40 Company Limited, and will be paid in cash. The financial terms and conditions of the acquisition are not being disclosed.
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