News

FAIRFIELD, Conn., Oct. 26, 2017 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American:ACU) today announced the exercise of its option to purchase its First Aid Only manufacturing and distribution center in Vancouver, WA for $4.0 million.

The property consists of 53,000 square feet of office, manufacturing, and warehouse space on 2.86 acres. Built in 1993, the facility is in excellent condition and was recently appraised at $6.25 million.  The annual rent net of expenses is $407,000.  The purchase was financed by a variable rate mortgage at 3.74%, which will result in additional annual interest expenses of $150,000.  After depreciation, the acquisition will be accretive.

Walter C. Johnsen, Chairman and CEO, said, “The option to purchase the facility was part of the First Aid Only transaction we completed in 2014.  The commercial real estate market today in Vancouver, Washington is strong, and the purchase represents an excellent value for our shareholders.  We expect savings to begin immediately.”

Mr. Johnsen concluded, “We would like to thank HSBC Bank NA, which provided the financing for the transaction, for its support.”