UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): March 3, 2011
ACME UNITED CORPORATION
(Exact name of registrant as specified in its charter)
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Connecticut
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001-07698
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06-0236700
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(State or other jurisdiction of
incorporation or organization)
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(Commission file number)
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(I.R.S. Employer
Identification No.)
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60 Round Hill Road, Fairfield, Connecticut
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06824
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (203) 254-6060
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01. REGISTRANT’S BUSINESS AND OPERATIONS.
On March 1, 2011, Acme United Corporation issued a press release announcing that it had agreed to acquire the assets of the Pac-Kit Safety Equipment Company. A copy of the press release is attached as Exhibit 99.1 to this current report.
(c) Exhibits
| Exhibit Number | Description |
| 99.1 | Press release dated March 1, 2011. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ACME UNITED CORPORATION
| By | /s/ Walter C. Johnsen | |
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Walter C. Johnsen
President and
Chief Executive Officer
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Dated: March 3, 2011
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| By | /s/ Paul G. Driscoll | |
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Paul G. Driscoll
Vice President and
Chief Financial Officer
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Dated: March 3, 2011
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EXHIBIT INDEX
Exhibit 99.1
ACME UNITED CORPORATION NEWS RELEASE
| CONTACT: | Paul G. Driscoll | Acme United Corporation | 60 Round Hill Road | Fairfield, CT 06824 |
| Phone: (203) 254-6060 | FAX: (203) 254-6521 |
FOR IMMEDIATE RELEASE March 1, 2011
ACME UNITED CORPORATION ACQUIRES PAC-KIT SAFETY EQUIPMENT COMPANY
FAIRFIELD, CONN. – March 1, 2011 – Acme United Corporation (NYSE AMEX:ACU) announced today the acquisition of Pac-Kit Safety Equipment Company, a leading manufacturer of first aid kits for the industrial, safety, transportation, and marine markets.
Pac-Kit’s revenues in 2010 were approximately $5.4 million. Acme United purchased the accounts receivable, inventory, equipment, brands, historical records, and photographs for $3.4 million. The acquisition is expected to be accretive in 2011.
The Company was formed in 1890 as part of the Burroughs Wellcome Company to assemble medicines, tablets, and bandages in convenient “Pac-Kit” cases. Its early first aid kits were chosen by many global explorers, who wanted the reliability and convenience of immediate emergency care and supplies.
Pac-Kit provided first aid kits for Theodore Roosevelt for expeditionary use and outfitted Captain Robert Scott’s expedition to the South Pole. It provided first aid kits to Norwegian explorer and Nobel Prize winner Fridtjof Nansen for his polar expeditions. Admiral Byrd carried them on the first flight to the South Pole, and Admiral Peary brought Pac-Kit first aid kits on both his North and South Pole flights.
The Company today sells high quality, unitized ANSI kits to a broad range of companies and distributors. It is known for tailoring these items to meet user requirements, and for rapid turnaround. Pac-Kit produces its products in a 40,000 square foot FDA facility in Norwalk, CT, and employs 33 people.
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Walter C. Johnsen, Chairman and CEO said, “We are very excited about the purchase of Pac-Kit. It is an extension of our PhysiciansCare line of first aid kits and refills, and it broadens both our customer base and product range. We believe we can leverage our combined purchasing and operations, and generate superior performance and value for our customers.”
ACME UNITED CORPORATION is a leading worldwide supplier of innovative cutting, measuring and safety products to the school, home, office, hardware and industrial markets.
Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the impact of current uncertainties in global economic conditions and the ongoing financial crisis affecting the domestic and foreign banking system and financial markets, including the impact on the Company’s suppliers and
customers (iii) currency fluctuations (iv) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth, and (v) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
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