Zep shares (NYSE:ZEP) edged lower Monday after the company announced the completion of its Niagara National purchase, as it seeks to increase value to customers via a widened portfolio base.
The maker of industrial maintenance products, including anti-bacterial and floor finishes, will add the Niagara brand, which includes automatic truck wash systems, pressure washers, water recovery stems and maintenance chemicals, to its transportation product portfolio.
The unit currently consists of Zep, EnviroEdge and Armor All Professional brands.
Zep CEO John K. Morgan said the acquisition will provide customers with “greater value,” providing them with “expanded” product offerings.
Though no financial details were disclosed, the deal was effective Oct. 1 and is expected to be accretive to Zep's fiscal 2011 earnings.