Acme United Corporation
Acme United Corporation is a supplier of cutting, measuring and safety products for the school, home, office, hardware and industrial markets. The company was organized as a partnership in 1867 and incorporated in 1873 under the laws of the State of Connecticut. It is publicly traded on the NYSE Mkt with symbol ACU.
| Company type | Public |
|---|---|
Traded as | AMEX: ACU |
| Industry | Consumer products |
| Founded | 1768, in Naugatuck, Connecticut |
| Headquarters | Shelton, Connecticut , U.S. |
Key people | Walter C. Johnsen (chairman and CEO) Brian S. Olschan (president and COO) Paul G. Driscoll (vice president and CFO) |
| Products | scissors, cutters, knives, rulers, first aid kits |
| Revenue | US$191.5 million (2023) |
Net income | US$17.7 million (2023) |
| Total assets | US$ 149.2 million (2023) |
Number of employees | 645 (2023) |
| Subsidiaries | Westcott, Clauss, PhysiciansCare, Pac-Kit, First Aid Only, DMT, Med-Nap, and Spill Magic |
| Website | AcmeUnited.com |
Acme United's operations are in the United States, Canada, Europe (located in Germany) and Asia (located in Hong Kong and China). The operations in the United States, Canada and Europe are primarily involved in product development, manufacturing, marketing, sales, administrative and distribution activities. The operations in Asia consist of sourcing, quality control and sales activities. Net sales for the year ended December 31, 2023 were $191.5 million, compared to $193.9 million in the year ended December 31, 2022, a decrease of 1%. Net income for the year ended December 31, 2023 was $17.8 million, or $4.86 per diluted share, compared to $3,035,000, or $0.86 per diluted share, in 2022.
The company's customers include Staples, Office Depot, OfficeMax, United Stationers, SP Richards, W.B. Mason, Home Depot, Target, Wal-Mart, Walgreens, Grainger, McMaster-Carr, Meijer, Fred Meyer, WH Smith, and many other major chains.