Acquisition of Jackson Products, Inc. Will Add to K-C Professional's Strength in Growing Safety Market
Leading Brands, Diverse Product Range Expands Company's Safety Portfolio in North America & Europe; Accelerates Growth in Developing & Emerging Regions
DALLAS, April 14 /PRNewswire-FirstCall/ -- Kimberly-Clark Corporation (NYSE: KMB) announced today that it has acquired Jackson Products, Inc., a privately held safety products company headquartered in Fenton, Mo. Jackson Products, Inc., more commonly known within the industry as Jackson Safety, is a leading provider of welding safety products, personal protective equipment and work zone safety products.
"The acquisition of Jackson Safety is consistent with our global business plan strategy to accelerate growth of high-margin workplace solutions," said Jan Spencer, president of Kimberly-Clark Professional. "Jackson Safety brings a wealth of strengths to Kimberly-Clark's Professional business, including an outstanding product portfolio and a highly experienced sales force. It enables us to focus resources more effectively by increasing sales and marketing manpower to support growth in safety while at the same time dedicating other teams that will help us sustain our leadership position and grow our traditional washroom and wiper businesses."
Tom Burns, current president and CEO of Jackson Safety said, "Jackson Safety is an excellent fit with Kimberly-Clark Professional, as our products are complementary to Kimberly-Clark's current safety business. I'm excited about this combination because it improves our prospects for growth in the U.S., Europe and emerging markets around the world."
Burns will continue to lead this business as a division of Kimberly-Clark Professional. Jackson Safety was founded in 1933 and has approximately 400 employees.
Baker Botts L.L.P. served as outside legal counsel to Kimberly-Clark, while Jackson Products was advised by Houlihan Lokey as exclusive financial advisor and Willkie Farr & Gallagher, L.L.P., as legal counsel.
About Kimberly-Clark and Kimberly-Clark Professional
Every day, one in four people around the world trust Kimberly-Clark brands to enhance their health, hygiene and well-being. To learn more about Kimberly-Clark and its 137-year history of innovation, visit www.kimberly-clark.com.
Manufacturing companies depend on Kimberly-Clark Professional for a broad portfolio of hygiene and safety products that help protect both the employees and the environment they work in. This $3 billion global business unit manufactures and markets washroom and skin care products, along with disposable wipes, personal protective apparel, face masks and gloves, providing head-to-toe protection for workers. For more information about K-C Professional, please visit http://www.kcprofessional.com.
Certain matters contained in this news release concerning the business outlook, including new product introductions, cost savings and acquisitions, anticipated financial and operating results, strategies, contingencies and anticipated transactions of the company constitute forward-looking statements and are based upon management's expectations and beliefs concerning future events impacting the company. There can be no assurance that these future events will occur as anticipated or that the company's results will be as estimated. For a description of certain factors that could cause the company's future results to differ materially from those expressed in any such forward-looking statements, see the section of Part I, Item 1 of the company's Annual Report on Form 10-K for the year ended December 31, 2008 entitled "Factors That May Affect Future Results."
SOURCE Kimberly-Clark Corporation