Wednesday August 15th, 2012 - 11:15AM
SC Johnson has reached an agreement to acquire ITW’s global Space Bag brand and related assets, HomeWorld has learned.
“We’re thrilled to add Space Bag to our family of long-respected, leading household brands,” said Fisk Johnson, chairman and CEO of SC Johnson in a statement. “It will enable us to strengthen our home storage offerings and it’s a natural complement to our Ziploc brand business.”
Space Bag joins SC Johnson’s robust portfolio of household brands including Pledge, Glade, Mr. Muscle, Windex, Kiwi, and Ziploc. Like many SC Johnson brands, Space Bag is the market leader in its category, according to the company.
SC Johnson expects the deal to be finalized soon subject to U.S. regulatory clearances and is currently working on developing transition plans for the business, according to a company statement.