3M Co., the maker of Scotch Tape and Post-It Notes, is acquiring the famous Irvine-based car care products maker Meguiar’s Inc. As such, there have been no financial terms that are disclosed in front of the media.

The deal is expected to close in the fourth quarter. It is likely to be very hefty as Meguiar’s Inc. has acquired a half yearly sales of more than $100million.

Meguiar’s, based in Irvine, Calif., employs 115 people, the companies said in a prepared statement today. The company manufactures products like Mirror Glaze polishes and waxes for professional use, as well as consumer products.

The products will add to St. Paul-based 3M’s range of automotive products, the company said.

"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," said Ian Hardgrove, who is the vice president of 3M automotive aftermarket division, in a statement.
 
"Together, Meguiar’s and 3M will collaborate to deliver even more innovative high performance products for enthusiasts around the world." he further added

Combining with 3M will greatly enhance our ability to serve and support Car Crazy people on a global basis," said Barry Meguiar, president and CEO, Meguiar’s Inc. "We are excited about the opportunity to grow our business by joining forces with one of the world’s great global companies–working together to increase our support of the car hobby worldwide."

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