Sales $423 million
Key personnel: Garry Ridge, chairman and chief executive officer; Steve Brass, president and chief operating officer; Rich Clampitt, vice president, general counsel and corporate secretary; Geoff Holdsworth, managing director, Asia-Pacific; Bill Noble, managing director, EMEA; Patricia Olsem, division president, Americas; Jay Rembolt, vice president, finance, treasurer and chief financial officer; Stan Sewitch, vice president, global organization development
Major products: Maintenance products as well as cleaning products including WD-40, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, Lava and Solvol
Comments: WD-40 Company’s sales for its most recent fiscal year rose 4% to $423 million. The company bills itself as a firm that “solves problems in workshops, factories and homes around the world” with maintenance and homecare and cleaning products that fall under several well-known brands such as WD-40, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, 1001, Lava and Solvol. The firm also markets products that fall outside of Happi’s scope—like 3-1-One and GT85, which are lubricants, as well as those under the WD-40 Specialist banner, like engine degreaser.
According to CEO Garry Ridge, WD-40’s maintenance products delivered solid sales increases, including 4% growth of WD-40 Multi-Use Product. More impressive was the 13% growth reported for WD-40 Specialist, which saw sales top $35 million. The line is sold primarily in the US and many countries in Europe, as well as parts of Canada, Latin America, Australia and Asia. In addition, the company markets WD-40 Specialist Motorbike in Europe, WD-40 Specialist Lawn and Garden in Australia, and WD-40 Specialist Automotive in Asia.
The company’s home care and cleaning products operations—home to products like Lava soap and 2000 Flushes—recorded a 2% gain with sales of $36.7 million. While sales in the Americas segment dropped 11%, this segment recorded a 60% increase in EMEA. Sales of 1001 Carpet Fresh were up $3.6 million in this region, driven by the favorable impacts of digital marketing associated with this brand, according to WD-40.
For the six months ended February 29, sales declined 2% to $198.6 million.
In June, Graciela I. Monteagudo was appointed to the WD-40 board of directors. She most recently served as president and CEO of Lala U.S., Inc. and has held key executive positions at Walmart Mexico and Procter & Gamble.