SHELTON, Conn. - Acme United Corporation (NYSE American: ACU), a prominent supplier of safety solutions and cutting technology, has announced the acquisition of Elite First Aid, Inc., a key player in the tactical and emergency response products industry. The North Carolina-based Elite First Aid reported revenues of around $4.2 million in 2023, but the terms of the purchase have not been disclosed.
The acquisition, completed today, is expected to be accretive to Acme United’s financials. Walter C. Johnsen, Chairman and CEO of Acme United, expressed confidence that the acquisition will enable the company to broaden its sales of emergency response products to its existing customer base and penetrate new markets.
Johnsen also highlighted the strategic significance of the Elite First Aid team joining Acme United, stating, "We are excited that the founder and management of Elite First Aid are joining Acme United. We also look forward to welcoming all the employees to the Company."
Acme United is known for its diverse portfolio of brands, including First Aid Only®, PhysiciansCare®, and Westcott®, serving various markets from school and office to hardware and industrial sectors.
InvestingPro Insights
Acme United Corporation's (NYSE American: ACU) recent acquisition of Elite First Aid, Inc. is a strategic move that could further strengthen its financials, which already show a robust performance with a P/E Ratio (Adjusted) of 21.8 as of the last twelve months leading up to Q1 2024. This valuation indicates that the company is trading at a multiple that could attract investors looking for reasonably priced stocks.
With a consistent and commendable track record of maintaining dividend payments for 21 consecutive years, Acme United has also raised its dividend for three straight years, showcasing its commitment to returning value to shareholders. This is further underlined by the company's Dividend Yield of 1.53% as of the latest dividend ex-date on March 27, 2024.
Despite a slight downturn in revenue, which saw a decrease of 2.98% over the last twelve months as of Q1 2024, Acme United's long-term performance remains strong. An InvestingPro Tip highlights the company's high return over the last year, with a 62.11% price total return, indicating a robust market confidence in the company's operations and strategic directions.
For investors interested in further insights and tips, including the company's operating with a moderate level of debt and the fact that its liquid assets exceed short-term obligations, Acme United's full profile with additional InvestingPro Tips can be explored at https://www.investing.com/pro/ACU. There are 9 additional tips available to help investors make more informed decisions. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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