MEDINA, Ohio--(BUSINESS WIRE)--Dec. 18, 2019--
RPM International Inc. (NYSE: RPM) today announced that its Mantrose-Haeuser Co., Inc. business has acquired Profile Food Ingredients, LLC, a manufacturer of dry stabilizer and emulsifier blends for the food industry. Headquartered in Elgin, Illinois, Profile Food Ingredients has annual net sales of approximately $25 million. Terms of the transaction were not disclosed.
Profile Food Ingredients offers a wide range of specialty product formulations for use in dairy products, baked goods, beverages, confections, nutraceuticals, dips, dressings and sauces. The company’s products are manufactured in its state-of-the-art, Safe Quality Food-certified facility. Its product line promotes uniformity, enhances texture, thickens, prevents separation and extends shelf life and includes clean label, non-GMO, organic and natural solutions.
Mantrose-Haeuser is a leading manufacturer of edible coatings, stabilizers and specialty ingredients for the food and beverage, agricultural, food packaging and pharmaceutical industries. Among the Mantrose-Haeuser businesses is Holton Food Products, a supplier of specialty stabilizers and meringue systems to the bakery industry.
“Profile Food Ingredients is a strong synergistic fit with our Mantrose-Haeuser business and its Holton Food Products subsidiary, which will enable us to accelerate both top- and bottom-line growth of the companies,” stated Frank C. Sullivan, RPM chairman and CEO. “This acquisition presents significant opportunities to leverage the combined sales forces of the entities, expand sales of specialty ingredients to the food industry and broaden our reach in international markets. We welcome founder Ted Benic and the Profile Food Ingredients management team to the RPM family of companies and look forward to supporting their continuing growth."
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio with hundreds of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces, to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 15,000 individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Russell L. Gordon, vice president and chief financial officer, at 330-273-5090 or firstname.lastname@example.org.
This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of banks and other financial institutions; (b) the prices, supply and capacity of raw materials, including assorted pigments, resins, solvents and other natural gas- and oil-based materials; packaging, including plastic containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) the timing of and the realization of anticipated cost savings from restructuring initiatives and the ability to identify additional cost savings opportunities; (j) risks related to the adequacy of our contingent liability reserves; and (k) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2019, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
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Source: RPM International Inc.
Russell L. Gordon
Vice President and Chief Financial Officer
RPM International Inc. (NYSE: RPM) owns subsidiaries that are world leaders in coatings, sealants, building materials and related services. From homes to precious landmarks worldwide, their brands are trusted by consumers and professionals alike to protect, improve and beautify. Among its leading consumer brands are Rust-Oleum, DAP and Zinsser. Learn more about RPM brands >>
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