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3M announced today that it intends to acquire Meguiar's Inc, a manufacturer of boat and car care products. Terms of the transaction were not disclosed.

Meguiar's products include waxes, polishes, cleaners, conditioners and protectants for the automotive and marine markets. Better known in the auto world, Meguiar's also has a significant product presence in the marine world, competing against companies like Star brite, MaryKate, and also 3M.

"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 the statement.

3M said that such "complementary acquisitions" will support its growth strategy to strengthen its core businesses and expand into adjacent markets. The transaction is expected to be completed in the fourth quarter.



(9 September 2008)

Just a guess, but I think they will market the products with the same MO of Meguiar's, just add the 3M logo on the products. I prefer 3M anyway, but do use some Meguiar's products.