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February 10, 2004
By: TOM BRANNA
Editor
WD-40 Company and PZ Cussons plc in the UK announced they have signed a definitive purchase agreement in which WD-40 Company will acquire the 1001 brand of carpet cleaning products.The purchase price of approximately $11.5 million will be funded through a cash transaction. WD-40 expects the transaction to be complete by April 2.The 1001 brand was originally positioned as an all-purpose household cleaner and evolved into a line of carpet care products over the years. The line includes the trigger spot stain remover, liquid carpet shampoo and aerosol carpet cleaning mousse, among other products. 1001 is a leading brand in carpet care with 65% brand awareness and over 40% market share in the UK.
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