Sales: $565 million
Key Personnel:John K. Morgan, chairman, president and chief executive officer; William A. Holl, executive vice president and chief operations officer; Mark Bachmann, chief financial officer; Cedric Brown, senior vice president and chief supply chain officer; Robert P. Collins, vice president and chief human resources officer; David A. Korn, vice president and chief compliance officer; C. Francis Whittaker III, vice president, general counsel and secretary; Richard S. Dunlap, vice president, retail sales; Jill A. Gilmer, assistant corporate secretary; Antonio Messa, vice president, finance; Clayton K. Miller, assistant corporate controller; Bradley M. Peterson, vice president and corporate controller; Ralph Puertas, president of Zep West; Alessandro Brighenti, president, Zep Europe; Robert Droke II, president, Zep Central; Joe Dymecki, president, Zep Southeast; Lisa Malloy, president, Zep retail; Thomas Moffett, president, Zep Midwest; Philip Snellen, vice president, industrial distribution; Roger Bretting, vice president, corporate accounts and corporate development.
Chief Scientific Officer:Dr. Stanley Weller, vice president and chief technical officer.
Major Products: Antibacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers and pest/weed control products marketed under the following brand names: Zep, Zep Commercial, Enforcer and Selig.
New Products:Green Link line of environmentally friendly products.
Comments:In September 2007, Atlanta-based Acuity Specialty Products Group Inc. (ASP) became Zep Inc. after a spin-off from parent company Acuity Brands Inc. Three months earlier, Acuity Brands had reported the spin-off of its lighting and specialty products businesses into an independent publicly-traded company also to be based in Atlanta.
For 2007, Zep reported a 2% rise in sales to $565.9 million, while gross profit increased 3% to $325.9 million. According to the company, improvement in gross profit was driven primarily by the pricing gains that resulted in $11.9 million of the total increase in net sales. In its sales, $474.6 million were I&I products, while $90.4 million was household/personal care.
A gross profit margin of 57.6% in fiscal 2007 remained consistent with that of the prior fiscal year. Operating profit decreased 26% in 2007 to $29.6 million. Net income for fiscal year 2007 decreased 33.8% to $14.1 million.
In marketing news, Zep was named the “Official Cleaning Products Supplier” of the Atlanta Braves baseball team this summer. One of the ways in which Zep is providing that “clean and sanitary environment” for Braves fans is by installing Zep brand hand sanitizer dispensers at food service stands around Turner Field. In addition to supplying a variety of cleaning and personal hygiene products for use at the stadium, Zep will sponsor the “Field Clean-Up” and “Clean Up Hitters” at home games. The company and its logo will also be featured in a variety of ads, signage and point-of-purchase displays around Turner Field.