WD-40 Co., the San Diego based maker of lubricants and other household products, said it completed the acquisition of the business and assets of GT85 Ltd., a United Kingdom based company that sells multipurpose maintenance products.
The purchase of GT85 is being made by WD-40 Ltd., the parent company’s U.K. subsidiary, and will be paid in an undisclosed cash sum, the company said.
WD-40 said the terms and conditions to the deal aren’t being disclosed because the acquisition “is not significant to the company’s consolidated financial statements.”
CEO Garry Ridge said the transaction complements the company’s maintenance products and will help build on the company’s strategy to develop new product categories for its WD-40 Specialist and WD-40 BIKE lines.
For its 2013 fiscal year, WD-40 reported $368.5 million in revenue.