RPM Acquires DAP Inc. from Wassall plc
MEDINA, OH — RPM Inc. has acquired DAP Products Inc. and DAP Canada Corp. from Wassall plc for $290 million in cash. DAP, based in Baltimore, is a major producer of caulks and sealants, spackling and glazing compounds, contact cements, and other specialty adhesives.
RPM Chairman and CEO Thomas C. Sullivan said the acquisition represents “an outstanding complement to RPM’s portfolio of leading consumer brand names.” That collection of companies includes Rust-Oleum, Zinsser, Flecto and Varathane. The company said it expects the acquisition to be neutral to earnings for its fiscal year ending May 31, 2000, and to contribute to sales and earnings growth the following year.