News
August 20, 2002 - Homax Group acquires Magic American Corporation
BELLINGHAM, WA, August 20, 2002 - Homax Group has acquired Magic American Corporation, a marketer and distributer of branded specialty cleaning and paint sundry products. Terms of the transaction were not disclosed.
Founded in 1934, Magic American Corporation is based in Beachwood, Ohio, a Cleveland Suburb. It offers products in four product categories: Goo Gone cleaning products, which are used to remove chewing gum, grease, and other sticky cleaning problems from carpets, upholstery,clothing, wood, and cement; Magic Cleaners, which clean stainless steel, countertops, cabinets, and other special surfaces; Magic Bath, which waterproofs and beautifies caulk joints in bathrooms; and Myro caulking products, for bathrooms and other applications. The company sells these products through leading retailers, including home centers, mass merchandisers, hardware, paint, grocery, drug, hobby/craft, and specialty stores.
Magic American will complement Homax Group's existing Paint Sundries Group, a leading supplier of high-quality patch and repair products, tile care products, steel wool, and drywall tools. The companies in the group, including Krusin International, Tile Care Products and Rhodes American Products, sell their products to professional painters, decorators and consumers through specialty paint stores, home centers, mass merchandisers and hardware stores. Magic American Corporation will significantly expand the products offering and distribution channels of the already successful group.
The acquisition of Magic American Corporation will allow the Homax Group to further broaden its product offering of leading brands for the DIY (Do-It-Yourself) and professional market. Magic American Corporation has a long-standing reputation for outstanding customer service and has several premier brands for the cleaning products market. There are significant opportunities for new product introductions, greater penetration into the retail sector, and significant marketing synergies with other Homax Group companies.
Alan Zeilinger, President and Scott Zeilinger, Vice President of Magic American Corporation said the acquisition would enable the company to continue to pursue its growth strategy.
For more information, please contact Catherine Carey of Homax at 360-733-9029.