The Clorox Company has acquired Akron-based GOJO Industries, creator and manufacturer of Purell hand sanitizer, for $2.25 billion in cash.
The agreement includes $330 million in tax benefits for a net purchase price of $1.92 billion, according to a Thursday news release.
"This is a momentous day for all of us at GOJO," GOJO President and CEO Carey Jaros said in the release. "GOJO and Clorox are united by our shared commitment to make the world a cleaner and healthier place.”
The purchase will expand Clorox’s portfolio of cleaning and hygiene products and bolster its global reach and give GOJO access to Clorox’s brand-building, innovation and distribution capabilities, according to the release.
"GOJO's deep commitment to innovation and delivering superior value in skin hygiene has built Purell into one of the most trusted names in homes, healthcare facilities, schools and businesses around the world – a name that is virtually synonymous with skin hygiene,” said Linda Rendle, chair and CEO of The Clorox Company. "This is a compelling acquisition that evolves our portfolio and scales our fastest growing, most profitable operating segment – Health and Wellness.”
The acquisition will bolster Clorox’s long-term growth strategy and shareholder value, Rendle added.
GOJO “will continue to be based in Ohio,” according to the release.
“I'm incredibly excited about what's ahead as we combine our leading brands, talented organizations and complementary capabilities to deliver best-in-class health and hygiene solutions to customers across the world,” Jaros wrote. “I'm proud to carry forward the 80-year legacy of the Lippman Kanfer Family, who founded and led the business for three generations in Northeast Ohio."
GOJO was founded in Akron in 1946 by Goldie and Jerry Lippman. Its products helped rubber factory workers remove carbon black and grease.
The Kanfer family took over leadership in the 1970s. Marcella Kanfer Rolnick currently serves as executive chair.
Akron Mayor Shammas Malik thanked the Kanfer family for their commitment to the city in a Friday statement.
“GOJO has been an Akron success story for 80 years,” Malik wrote. “We are grateful for everything the Kanfer family has done for Akron and we’re hopeful the City of Akron will be an important part of the GOJO/Clorox story for many more years to come.”
