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

[cryogenic419]

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

It kind of makes sense for a company like 3M to want to aquire Meguiar's. Why compete when you can own or partner them? 3M knows Meg's has a dedicated following of enthusiasts. If I'm not mistaken, 3M makes some body shop items and only a small handful of consumer type items. They don't seem to cover the entire spectrum from prepping to painting to detailing and basic washing waxing. This is where Meguiar's comes into play. A successful company evaluates the market and their product line and sees a giant hole, they try to fill that void.

Sure both companies may make some similar products, but you need to take into account brand loyalty. Say both 3M and Meg's both make their own version of "magic polishing goo x" but both versions sell extremely well. If its making money why mess with a good thing?

On the flipside though some companies figure consolidate and keep the cash rolling in either way. For some of these duplicate products I can see them evaluating which one sells more, which one has a higher profit margin and going with that. I could be wrong and only the head honchos really know what the plans are.

This merger/aquisition could be extremely beneficial for both companies. I am sure they both use similiar chemicals and components in their products. Together they have more purchasing power. What about R&D? Meg's has some talented people working for them as does 3M. Together the amount of research dollars and technology at their disposal could elevate car care to a whole new level.

Some things I can realistically see happening. Meg's products maintaining their brand identity, but a 3M logo somewhere on the bottle or packaging.
Probably combined warehousing for all their products as well as shipping. Cross company product development. We all love and use that blue painters tape, would it be so shocking if they came out with a tape specifically geared towards auto detailing?

I am hopeful the only changes we'll see are for the better.

[J. A. Michaels]

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

I am now one of a open mind. I guess I took the news pretty hard at first. I hope and prayer that all my fears are unfounded. If it is a great deal according to the Meguiars employees I have come to trust over the years. Then I am all for it.

[Erik Mejia]

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

I can't say that I'm not saddened by this news.
I loved the fact that my favorite car care company was a family based tradition, with strong ties to it's customers, and who brought the highest quality products to the masses. I enjoyed, and learned so much from the Meguiar's employees who have as much passion for this hobby as I do. Hopefully the weekend classes, and open garages don't go anywhere. I really enjoy driving out to Irvine and hanging out with others who also share the car passion. I really feel like I made some friends out there. I hope this acquisition won't take away all the fun and excitment which is brought to us by people like the three Mikes.

I guess I won't complain too much, as long as the current and future Meguiar's products continue to uphold the GOLD STANDARD which I have been accustomed to from a company which always has the interests of their customers first. Good luck to all the employees of Meg's, hope to see you all soon.

[Mike Pennington]

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

Great

The most important point, sounds like he is taking care of you by supplying the right products, service & training

Mike

[Bert31]

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

No offense taken

Not sure what a Mirror Glaze Franshisee is ?? We do not have those ?

Could they be a re-seller / Dist of our products ?

Mike

Well, I guess I always assumed it was a franchise. The store's name is Mirror Glaze. (I can't imagine Meguiars allowing someone to use the Mirror Glaze name unless they were franchised), it has been owned by Paul (I forget his last name) for something like 27 years (atleast I was told he was the owner by several customers), 99% of everything he sells is Meguiar's products (primarily Mirror Glaze and Detailer Brand), he goes to several Meguiars trainings and has lead the training at one or two I believe, and if I am not mistaking, the sign on the front of the building says something about franchise. I don't know, I need some very fine wet sand paper and some Super Degreaser and APC+ so I may swing by Saturday morning and see if I am dreaming up something about the sign saying franchise.

[Jossy92]

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

Based on the insightful thoughts in this thread, here's my 2 cents:

I feel grateful that Meguiars selected a good company and I believe it did so not just to survive but to maintain quality and tradition. That takes money. I didn't provide the money, 3M will. Not driven by corporate greed, but by me. My greed to save a few bucks which made it harder to find the products. 3M will help fix that.

IMHO, it's much easier to blame corporate greed, but you don't get what you don't pay for.

Based on some very insightful posts here, I feel Meguiars selected 3M as umbrella not a coffin.

I would like apologize to Meguiars and although it's too late, I now brush my teeth with ScratchX... just to support the company by actually using it's product.

[Jeepster04]

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

As I try to digest this I keep coming up with why did Barry sell????

Kelly

Seems he wants to expand meguiars.. Hopefully its for the best...

[Mike Pennington]

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

Never meant to provide any assurance to the accuracy of the entire statement, particularily the part about Meguiars positioning itself to be sold (apologize if anyone took it that way), only bringing light upon that a small part of the quote agreed with the info that the local Mirror Glaze Frachisee stated a few months ago in regards to the Tennessee plant being a third party. I will place more weight upon my local Mirror Glaze Franchisee states than a post on another forum.

No offense taken

Not sure what a Mirror Glaze Franshisee is ?? We do not have those ?

Could they be a re-seller / Dist of our products ?

Mike

[Bert31]

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

Please don't believe everything you read on other forums. It is unfortunate when others post information that is just not true, and leads people down the wrong path.

Never meant to provide any assurance to the accuracy of the entire statement, particularily the part about Meguiars positioning itself to be sold (apologize if anyone took it that way), only bringing light upon that a small part of the quote agreed with the info that the local Mirror Glaze Frachisee stated a few months ago in regards to the Tennessee plant being a third party. I will place more weight upon my local Mirror Glaze Franchisee states than a post on another forum.

[davey g-force]

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

^^ I really do hope this is true...

[Mike Pennington]

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

No they don't dilute the sales per employee, they HELP the sales per employee ratio because they are not employees of Meguiars. I think you are missing the point of my reply. Someone stated that they were amazed at Meguiars sales per employee ratio and I stated that such a ratio can look better than it really is if the company outsources some of it works to third companies. I mentioned the plant down in Tennessee that I thought was a third party blender for Meguiars. The Other PC stated that this Tennessee plant is part of Meguiars. However, I found the following in another forum discussing this:

"If you look back over the past 5 years at what Meguiar's has done, you'd see a significant slim-down. They brought all D-line manufacturing in house. They killed products and product lines that didn't have an immediate pay back opportunity. They consolidated all warehousing. Then, finally, they outsourced all manufacturing and internet sales to 3rd party companies. That means they went from nearly 200 employees to about 100, making themselves easier to be snapped up if they could not pay back the debt."

So maybe the Mirror Glaze Franchisee near me is correct that the plant is a third party who Meguiars outsources to not a Meguiars owned plant. I don't know but I know this has gone much further than I intended.

Please don't believe everything you read on other forums. It is unfortunate when others post information that is just not true, and leads people down the wrong path.

________________________________________________________________

We all need to keep in mind what we originally posted under the press release....

"Here are a few points to take away from this announcment...

- Barry Meguiar will continue to lead the company with his PASSION and the legacy of Meguiar’s will continue with even more support for the car hobby & car enthusiast.

- We take our responsibility to the industry very seriously and want to assure you that 3M enthusiastically shares our passion and commitment to innovation, quality and service.

- Our plan moving forward is to continue to support you as we have in the past by providing the same high quality products and service you’ve come to expect.

- Together, Meguiar’s and 3M will deliver a more complete product offering to auto enthusiast, car detailing and professional markets.

- We are excited about our future and look forward to continuing to serve you."



Mike

[Piku]

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

I have been thinking about the 3M acquiring of Meguiar's and I have mixed feelings about it.

I am sad to see this awesome, family owned business for over 100 years, get absorbed into the corporate world. You don't see that many old successful family owned businesses any more.

It seems like Meguiar's in order to continue to grow it needs the backing and the capital that a huge corporation like 3M can provide.

I believe that Meguiar's will be ok. 3M has not become who they are by messing up things that are good. Their instant capital infusion will help Meguiar's continue to grow by introducing other great products as well as expand nationally and globally.

Meguiar's employees will also be alright. 3M is not just buying Meguiar's for its products that they offer, but they are also buying the "brains" at Meguiar's, the intellectual property that Meguiar's has.

And finally, we as customers will also be ok. Maybe some overlapping products will be discontinued, but this is normal everywhere. Prices might go up, but 3M can't just double prices overnight. With 3M infusion of capital, Meguiar's will introduce many more awesome products that we have come to love.

[seth1066]

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

Which forum did you find this on? Obviously, some find it necessary to bash companies by creating and distributing information that is either false or twisted. Because some like to spread false information, I wish people would start citing their sources.


The plant in Nashville is owned by Mirror Glaze aka Meguiar's.

I researched that and couldn't find a working phone number for any of the Meguiar's/Mirror Bright listings in Tennessee although it appears that they did have a plant there at one time.

[Piku]

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

Which forum did you find this on? Obviously, some find it necessary to bash companies by creating and distributing information that is either false or twisted. Because some like to spread false information, I wish people would start citing their sources.


The plant in Nashville is owned by Mirror Glaze aka Meguiar's.

The quote is from DavidB from Autopia forum.

http://www.autopia.org/forum/1172583-post34.html

http://www.autopia.org/forum/autopia-news/111283-3m-buys-meguiar-s-3.html

[PorscheGuy997]

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

However, I found the following in another forum discussing this:

Which forum did you find this on? Obviously, some find it necessary to bash companies by creating and distributing information that is either false or twisted. Because some like to spread false information, I wish people would start citing their sources.


The plant in Nashville is owned by Mirror Glaze aka Meguiar's.