3M Completes Acquisition of Meguiar’s Inc.

3M has completed its acquisition of Meguiar’s Inc., a car-care product manufacturer of waxes, polishes, cleaners, conditioners and protectants. The product line will be brought into 3M’s range of automotive aftermarket products, the company announced. Financial terms of the deal were not disclosed.

3M’s Automotive Aftermarket Division provides a line of 3M products for auto body repair professionals and auto enthusiasts. Products include abrasives and accessories, performance cleaning products, waxes, masking tapes, panel bonding adhesives, general adhesives coatings and sealers, paint finishing polishes and compounds, and paint application systems.

The acquisition is part of 3M’s growth strategy to strengthen its core businesses and expand into adjacent markets.

“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, 3M Automotive Aftermarket Division, in an earlier statement.

“Combining with 3M will greatly enhance our ability to serve and support car-crazy people on a global basis,” added Barry Meguiar, president and CEO of Meguiar’s Inc. “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.”

A 100-year-old family business based in Irvine, Calif., Meguiar’s employs approximately 115 people. With $24 billion in sales, 3M employs 79,000 people worldwide.