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SHELTON, Conn. - Acme United Corporation (NYSE American:ACU), a $162 million market cap company with annual revenues of $195 million, has acquired a manufacturing and distribution center in Mt. Pleasant, Tennessee for approximately $6 million, according to a company press release issued Tuesday. According to InvestingPro data, the company maintains a strong financial position with liquid assets exceeding short-term obligations.
The 77,000-square-foot facility sits on 12 acres and has potential for expansion by up to an additional 60,000 square feet. The property is fully air conditioned and meets FDA-approved food-grade specifications.
The company plans to primarily use the facility for its Spill Magic operations, which it acquired in 2017. According to the announcement, Spill Magic has outgrown one of its currently leased spaces, necessitating the move.
Walter C. Johnsen, Chairman and CEO of Acme United, stated that the company intends to invest in capital improvements focused on automation at the new location.
Spill Magic produces absorbent powder products designed for bodily fluid and spill clean-up solutions. The brand’s products are used in various settings including grocery stores, retail outlets, food service chains, and industrial facilities.
Acme United, which supplies safety solutions and cutting technology across multiple markets, counts First Aid Only, Westcott, Clauss, and DMT among its portfolio of brands alongside Spill Magic.
The company did not disclose a timeline for when operations would begin at the new Tennessee facility.
In other recent news, Acme United Corporation reported its financial results for the first quarter of 2025, revealing a shortfall in both earnings per share (EPS) and revenue compared to market forecasts. The company posted an EPS of $0.41, missing the anticipated $0.52, and revenue of $45.96 million, falling short of the expected $46.98 million. Despite these results, Acme United’s first aid business experienced a 14% growth, indicating strength in that sector. Additionally, the company declared a quarterly cash dividend of 16 cents per share, marking the fifteenth increase since 2004. The company is also considering potential acquisitions to bolster its market position, as mentioned by CEO Walter C. Johnson. Acme United remains cautious in providing specific guidance due to ongoing tariff uncertainties, but it anticipates an 8-12% growth in its first aid business. The company is actively exploring alternative sourcing options in countries like Vietnam, Thailand, and India to mitigate tariff impacts. As part of its strategic initiatives, Acme United has installed new robotic systems in its North Carolina plant to enhance efficiency in its first aid product line.
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