RACINE, Wis., June 29, 2012 /PRNewswire/ -- SC Johnson is pleased to announce that it has reached an agreement to acquire ITW's (NYSE: ITW) global Space Bag® brand and related assets.
"We're thrilled to add Space Bag® to our family of long-respected, leading household brands," said Fisk Johnson, Chairman and CEO of SC Johnson. "It will enable us to strengthen our home storage offerings and it's a natural complement to our Ziploc® Brand business."
Space Bag®, the leader in space-saving storage, joins SC Johnson's robust portfolio of household brands including Pledge®, Glade®, Mr. Muscle®, Windex® Kiwi® and Ziploc®. Like many SC Johnson brands, Space Bag® is the market leader in its category.
SC Johnson expects the deal to be finalized in next few months subject to U.S. regulatory clearances and is currently working on developing transition plans for the business.
As a private company, SC Johnson does not disclose details regarding financial or business transactions.
About SC Johnson
SC Johnson is a family-owned and managed business dedicated to innovative, high-quality products, excellence in the workplace and a long-term commitment to the environment and the communities in which it operates. Based in the USA, the company is one of the world's leading manufacturers of household cleaning products and products for home storage, air care, pest control and shoe care. It markets such well-known brands as GLADE®, KIWI®, OFF!®, PLEDGE®, RAID®, SCRUBBING BUBBLES®, SHOUT®, WINDEX® and ZIPLOC® in the U.S. and beyond, with brands marketed outside the U.S. including AUTAN®, TANA®, BAMA®, BAYGON®, BRISE®, KABIKILLER®, KLEAR®, MR. MUSCLE®, and RIDSECT®. The 126-year-old company, that generates $9 billion in sales, employs nearly 13,000 people globally and sells products in virtually every country around the world. www.scjohnson.com
Contact: Jam Stewart
SOURCE SC Johnson