Myers Industries, Inc., a manufacturer of polymer products and a distributor of tools for the tire, wheel and vehicle service market, announced Thursday its acquisition of ITML Horticultural Products, Inc., a manufacturer of plastic containers and related products for the professional horticulture industry.
Financial details were not disclosed and the acquisition is expected to be completed in early 2007.
The acquisition of ITML, based in Ontario, Canada, will help Myers Industries to strengthen its brand portfolio under its Lawn and Garden Segment, according to John C. Orr, president and CEO of Myers Industries.
Myers Industries, headquartered in Akron, Ohio, markets containers, hanging baskets, trays, nursery pots, and resin planters through its Lawn and Garden Segment, which accounted for $170.4 million of Myers Industries' total net sales of $903.7 million in 2005.
ITML produces containers, hanging baskets, trays, flats, and specialty products, and has six facilities throughout Canada and the U.S.
ITML will be integrated into Myers Industries’ Lawn and Garden Segment and will operate as a strategic business unit within the segment.