NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

[Maserati Mario]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.


Meguiar's in Irvine has been a family-owned business for 100 years. Now it will be part of 3M, maker of everything from Scotch tape to Post-it notes.
Terms of the deal, which is expected to close in the fourth quarter, were not disclosed. Meguiar’s has 115 employees.

You don’t have to be a car enthusiast to have a bottle of Meguiar’s polish or wax in your garage cabinet. Its product line has expanded far beyond the original Mirror Glaze polishes.
However, the waxing habit has waned. In a 2004 Barry Meguiar told colleague Diana McCabe, just 23% of Americans wax their cars today, down from 65% in the mid-’70s. The need to polish and wax has fallen as auto manufacturers have developed more resilient paint finishes.
“Combining with 3M will greatly enhance our ability to serve and support car crazy people on a global basis,” he said about today’s announcement of the sale. “We are excited about the opportunity to grow our business by joining forces with one of the world’s great global companies, working together to increase our support of the car hobby worldwide.”
Meguiar’s will be part of 3M’s Automotive Aftermarket Division.
“The addition of Meguiar’s builds on our professional offering for the automotive industry and brings the expertise of Barry Meguiar in the growing enthusiast market for car care products,” said Ian Hardgrove, vice president of the Automotive Aftermarket Division.

[Jokeman]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Maybe it will be easier to obtain banners now ...? lets hope so..

Hah!! Buying stuff adds up. Its very easy to get yourself a banner. When you start buying in bulk, you get to that point VERY quickly.

[mckeand13]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Great. Corporate greed sweeps its way through another company.

Better stock up on product before 3M starts crapifying it so they can make higher margins.

Sorry folks, but we will all pay for this poor decision.

[Joe's detailing]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Maybe it will be easier to obtain banners now ...? lets hope so..

[Markus Kleis]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

The business and logistical aspect of the deal is fairly simple (IMO)- Meguiar's does extremely well in the "consumer" line of products found at your local auto parts stores, Wal-Marts, SEARS, Target, etc. On the other hand, 3M has an advantage (in terms of market share) in the body shop/professional side of the business.

So you take two number one producers (in their respective markets) and combine them to form one undeniable overall number 1 producer of professional AND consumer products.

Meguiar's WILL continue to operate in a fashion VERY similar to the way they have and do up until now- in fact most people will never notice the change (At least that is my prediction).

I see the positive changes to come like the sharing of technologies to create better products for us to enjoy. also, Meguiar's REALLY shines in its ability to teach their customers about their products, and how to use them. 3M on the other hand totally lacks in that department, so maybe now we will also be able to take advantage of the quality products 3M makes that we don't know well enough to use.

I'm hoping for the best, and only time will tell.

[SHYNEMAN123]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

3M and Meguiars make a lot of similar products.Wont they conflect,unless Meguiars will make the waxes, polishes and compounds , and 3M will make everthing else. They dont need two kinds of compounds, polishes and waxes. Time will tell.

3M'S Compounds are very different than Meg's should be a good mix.

[Maserati Mario]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Wow!
I thinks it sad that a family owned business sold out. But on the other hand it's business and making money is the key to being successful. I hope they made the right dession and things work out for the better. Only time will tell.

[Nick Chapman]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

[Larry A]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

3M and Meguiars make a lot of similar products.Wont they conflect,unless Meguiars will make the waxes, polishes and compounds , and 3M will make everthing else. They dont need two kinds of compounds, polishes and waxes. Time will tell.

[SHYNEMAN123]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Well now I don't have to feel guilty about using 3M compounds for the past 28 years and finishing up with Meguiar's.
I think It was a great move to combine the R&D of two great company's they will be unbeatable.

[lariat]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

So sad, end of an era!!

[seth1066]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Goin to stock up now... I can see the 3M prices in the future

Well, I can't think of any two products that are as widely used in the professional end of the business, might be a slight monopoly. Haven't bought any in years, are comparable 3M products that much more?

[Andy M.]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Just think of the money they will save on Post-Its.

And painters tape!!!!!!

Andy

[Sal329]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Goin to stock up now... I can see the 3M prices in the future

[DAC17]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I assume this means that Barry was at the point of his career where he was ready to sell out. I can only hope 3M leaves well enough alone. Many buyers have screwed themselves trying to "add value" to their targets....