GSM Holdings, Inc. acquired the assets of Camillus and Cuda hunting and fishing product lines from Acme United Corporation for $19.8 million.
November 31, 2023
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GSM Holdings, Inc. acquired the assets of Camillus and Cuda hunting and fishing product lines from Acme United Corporation (NYSEAM:ACU) for $19.8 million on November 1, 2023. As of November 1, 2023, business of Acme United Corporation reported the revenue of $12 million for the period ended December 31, 2022. The sale will allow us to place an increased focus on our primary product lines. Acme United Corporation intends to use the net proceeds of the sale to pay down approximately $15 million of bank debt. D.A. Davidson & Co. acted as financial advisor to Acme United Corporation.
GSM Holdings, Inc. completed the acquisition of the assets of Camillus and Cuda hunting and fishing product lines from Acme United Corporation (NYSEAM:ACU) on November 1, 2023. The purchase price for the acquired business was $19.773 million, out of which GSM Holdings paid $18.273 million at closing and the balance of the purchase price of $1.5 million is subject to a 12-month holdback as a non-exclusive source of recovery primarily to satisfy indemnification claims under the asset purchase agreement.
Acme United Corporation is a supplier of first aid and medical products and cutting technology to the school, home, office, hardware, sporting goods, and industrial markets. It markets and sells through two main product categories: first aid and medical and cutting and sharpening. The first aid and medical category includes first aid and safety products, such as First Aid Only, PhysiciansCare, Pac-Kit, Spill Magic, First Aid Central, Med-Nap and Safety Made brands. Its cutting and sharpening categories include school, home and office products (Westcott brand). Its hardware, industrial and sporting goods products are Clauss and DMT brands. Its principal products sold across all segments are first aid kits and medical products, scissors, shears, knives, and sharpening tools. It sells its products to mass market and e-commerce retailers, industrial distributors, wholesale, contract and retail stationery distributors, office supply superstores, sporting goods stores, and hardware chains.
ACME UNITED CORPORATION 
