Based in Ontario, Canada, Siamons has annual net sales of approximately $20 million.
Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
The Concrobium brand offers a wide range of non-toxic specialty mold cleaning solutions that can be used on both porous and non-porous surfaces, including wood, fabrics and drywall. It is sold primarily in big-box retailers, such as The Home Depot, Lowe’s and Menards.
As part of this acquisition, Rust-Oleum will strengthen Concrobium’s retail presence.
“The Concrobium brand is an excellent strategic fit that will expand Rust-Oleum’s specialty cleaning product portfolio, complementing its existing Krud Kutter, Mean Green, Roto-Rooter, Whink, Jomax, and Moldex brands and resulting in significant cost synergies and enhanced supply chain efficiencies,” said Frank C. Sullivan, chairman and CEO of RPM.