3M Buys Meguiar’s

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St. Paul, MN — 3M Corporation, based in St. Paul, Minnesota, announced on September 8 that it had made an agreement to acquire Meguiar’s, Inc., of Irvine, California. Meguiar’s is a century-old family business that manufactures car care products and produces enthusiast-oriented “Car Crazy” TV and radio shows.

“Combining with 3M will greatly enhance our ability to support and serve Car Crazy people on a global basis,” said company president and CEO Barry J. Meguiar. After achieving great success by specializing in products for the auto body trade, Meguiar’s branched out into the enthusiast marketplace with innovative promotions like the Meguiar’s Award.

In more recent years, Meguiar’s has expanded into the retail market, with a line of consumer products that are sold in auto parts outlets and big box stores. Meguiar’s line of products are sold to professionals as an easy-to-use “system” of different polishes and waxes, while the consumer products are one-stage types.

Meguiar’s started running advertisements in enthusiast magazines like Hot Rod as early as the 1960s. In the last two decades, the company has created a huge presence in the car hobbies with big rigs traveling to shows and Meguiar’s banners hanging everywhere at vintage car venues, classic car auctions, and trade shows like SEMA. In fact, one of the first things spectators have seen at SEMA the past few years is a giant stage set up for remote broadcasts of the Car Crazy program.

Meguiar’s is also very proud of its customers’ winning ways at the Pebble Beach Concours d’Elegance and is currently promoting the fact that its polishes and waxes were chosen by 20 out of the 24 “Best of Class” winners at the 2008 event.

According to business news reports, Meguiar’s employed 115 people at its headquarters in Irvine. 3M, by comparison, has 79,000 employees throughout the world. Barry Meguiar said he was excited about growing his business by “joining forces with one of the world’s great global companies.” 3M currently reports $24 billion in sales worldwide.–John Gunnell

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