AKRON, Ohio — Myers Industries Inc., maker of polymer products and distributor of tools and other equipment for the tire, wheel and auto repair markets, said Thursday it will buy ITML Horticultural Products Inc.
Terms of the deal were not made public.
ITML is a private company based in Ontario, Canada. It designs, manufactures and markets plastic containers, baskets, trays and related products for professional flower and other plant growers in North America. Its products are sold under the Kord, Euro Systems and TLC brands. The company operates six facilities in Canada and the U.S.
Myers Industries Chief Executive John C. Orr said ITML shares similar product lines, manufacturing capabilities, sales channels, and strategic geographies with his company. In particular, Orr expects the acquisition to increase Myers Industries’ grower and distributor market share in Canada and the southern and western U.S.
The deal is expected to closed in early 2007.
