NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

[Sydster]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

One thing that is going to go for sure is the Detailer line, that is just my opinion thou.

[100kdown]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Over my 30+ year corporate career(s), I've had the dubious honor of surviving 3 buyouts. In all cases, the buyer stated that "No changes will be made" and "(fill in the blank) will continue as a wholly owned subsidiary of (fill in the blank)". In all cases, within 6 months, the consolidation of people, facilities and products began. Unnecessary duplication was eliminated. Products deemed "unprofitable" by the buyer were discontinued. That's business, folks.

I suspect 3M, being a profit (shareholder) driven organization, will follow this path. One thing we can be sure of, if the deal goes through, is that there will be changes. Hopefully for the good, but only time will tell.

[Bence]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Let's dig out positive merger/partnership/acquirement examples where the buyee came out as overall winner or markedly improved company!

Other than that, I'm proud that I knew the true Meg's - but now something is irrepearably went wrong and lost.

[acsuppa]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Wow! I just find out and I'm shocked. Well, at least it is 3M and not a crappy company. I've been hearing a lot of good things over the years about 3M Pro products. maybe now I can give a few a try and not feel guilty. ha Ha.

[bookeem]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

why meguiars why, they just want the recipe to your secret sauce, once they have that, what are u left with...

[SD DIESEL]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I am sorry to hear this news. Everything changes after a buyout like this. Everything changes. And rarely are these changes good, either for the consumer or for the employees of the formerly family-owned company. But such is business. Time will tell.

Been hear before.

[audionutmike]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I couldn't sleep last night over this...I just don't have a good feeling about it. It's obvious that Meguiar's as we know it is gone forever, but I fear that many of the great products are going to be gone too. What a loss.... I sure hope I'm wrong, and I hope the best for all of the employees.

[Bert31]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I couldn't sleep last night over this..

Taking this a little personal aren't you?

[Jimmy Buffit]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Did I miss some mention of The Shansby Group? They have been substantial stakeholders of Meguiar's for over 5 years. Are they still involved...

[dvtldav]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Not all mergers are bad. In fact there are a lot of mergers that you never hear about and nothing ever changes. Example: Whirlpool, Kitchen Aid, Jenn Air, and I think Maytag are all the same company now. Electrolux owns Frigidaire. So just because a small company is bought out, it doesn't mean bad things are going to happen. I own a little bit of 3M stock so I get their annual report, plus I have read articles about them in magazines like Fortune and Forbes and they seem to be a pretty solid company. They are big into R&D and in the past, I don't know about now, required their engineers to spend at least 8 hours a week working on developing new products. This could be on an individual basis or as a team effort. So hopefully this will continue at Meguiar's and things will only get better. Besides, since I am a stock holder maybe I can get a discount on Meg's products.

Dave

[mike_svt]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

New name = 3Meg?

If products are going to be discontinued, maybe we (MOL) could get a heads-up so we can stock up on our old-time (and new) favorites!

[InfiniteDetail]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Over my 30+ year corporate career(s), I've had the dubious honor of surviving 3 buyouts. In all cases, the buyer stated that "No changes will be made" and "(fill in the blank) will continue as a wholly owned subsidiary of (fill in the blank)". In all cases, within 6 months, the consolidation of people, facilities and products began. Unnecessary duplication was eliminated. Products deemed "unprofitable" by the buyer were discontinued. That's business, folks.

I suspect 3M, being a profit (shareholder) driven organization, will follow this path. One thing we can be sure of, if the deal goes through, is that there will be changes. Hopefully for the good, but only time will tell.

This is exactly the experience I had with my former employer. Sadly, there's no way a profit driven company can resist the temptation to eliminate "duplicate functions" to "streamline operations."

I wish all the best to Meguiar's employees, and I hope and pray that the excellent Meguiar's products continue.

[Blake Beamish]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

New name = 3Meg?

That's funny!

I am personally excited about the news. 3M is a fantastic company who is very philanthropic and has a long history just as Meguiar's does. They have complete respect for us as we have competed against them for many many years.

[seth1066]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Cheer up guys. From what I can get out of the news releases is Barry is not going anywhere. Meguiar's sponsors 11,000 automotive events annually; you can't do that unless you are making money. Whatever Barry and Meguiar's 115 employees are doing, they are good at it and one would think, making a decent profit; their sales are reported to be over $100 million per year. I doubt if 3M is just going to come in, make everyone wear ties, and screw it up.

Here are some quotes from news sources and the 3M press release:

"The addition of Meguiar’s builds on our professional offering for the automotive industry and brings the expertise of Barry Meguiar in the growing enthusiast market for car care products...”

"Chosen by 20 out of 24 “Best of Class” winners at the 2008 Pebble Beach Concours d’Elegance, Meguiar’s provides highly specialized products for every automotive surface, including paint, wheels, tires, and interiors. As part of its passionate support for the car hobby, Meguiar’s sponsors more than 11,000 car shows globally and produces Meguiar’s Car Crazy Television and Radio that represent car enthusiasts worldwide."

"The deal, set to close in the fourth quarter, is likely sizable as Meguiar’s has yearly sales of more than $100 million."

[CowboyTruckn]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I have been a Meguiar's user for a long time and really enjoy their products. I am not sure about this whole 3M thing but I do know one thing, if their prices go up one penny I will definately find me another car care supplier for my vehicles. Hey Mr. Chip Foose do you need a hand waxing that car?