WD-40 acquires current Brazilian marketing distributor

WD-40 Company announced that a definitive agreement has been entered into acquiring the company’s current Brazilian marketing distributor and long-time business partner, Theron Marketing Ltda. Pursuant to the terms of the transaction, WD-40 Holding Company Brasil Ltda., a wholly owned subsidiary of WD-40 Company, acquires all outstanding shares of common stock of Theron Marketing Ltda., a wholly owned subsidiary of M12 Participacoes Empresarias S.A., in an all-cash offer. With this transaction, WD-40 Company will begin direct distribution within the country of Brazil immediately. M12 Participacoes Empresarias S.A will continue to act as WD-40 Holding Company Brasil’s logistics operator, the company said in a statement. “This transaction directly supports our first Must-Win Battle which is to lead geographic expansion of WD-40 Multi-Use Product,” said Steve Brass, president and chief executive officer of WD-40 Company. The anticipated impact of this acquisition was included in WD-40 Company’s outlook for fiscal year 2024.