RPM International Inc.’s Rust-Oleum group has acquired Siamons International Inc., and with it, Siamons' leading mold solutions brand, Concrobium.
Ontario-based Siamons has annual net sales of approximately $20 million. But the real win for RPM is adding Concrobium, which will allow its Rust-Oleum group to offer one-stop shopping to its retail partners and boost its position as a leader in the specialty cleaning market, RPM CEO Frank C. Sullivan said in a statement.
Concrobium offers a wide range of non-toxic specialty mold cleaning products and is sold primarily in big-box retailers.
“The Concrobium brand is an excellent strategic fit that will expand Rust-Oleum’s specialty cleaning product portfolio, complementing its existing Krud Kutter, Mean Green, Roto-Rooter, Whink, Jomax and Moldex brands and resulting in significant cost synergies and enhanced supply chain efficiencies,” Sullivan said.
As part of the acquisition, Rust-Oleum will strengthen Concrobium’s retail presence, introduce it to new market categories and leverage its customer base to accelerate distribution of other specialty cleaning brands in Canada. It will also expand Concrobium on an international scale. Terms of the transaction were not disclosed.