ACU - Acme United Corporation Acquires the Assets of Hawktree Solutions Inc. | Benzinga
SHELTON, Conn., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE: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 United
ACME 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®,