St. Paul, Minnesota, USA, and Tokyo, Japan, 22 February 2010 -- (BUSINESS WIRE) -- 3M announced today that it has entered into a definitive agreement to acquire a majority stake in the A-One branded consumer and office label business and related operations. Terms of the transaction were not disclosed.
A-One is the number one office and consumer label brand in Asia, and the second largest worldwide. It has been majority owned and operated by the Arai family continuously since its inception in 1959. A-One label products have been manufactured from its Togane plant for office and consumer customers throughout Japan for more than 50 years. A-One has distribution at all major retail and stationery channels throughout Japan. A-One CEO Hiroaki Arai will continue to lead the business after closing, bringing A-One within the 3M global network.
3M entered the Japanese consumer and office label market in 2009. The acquisition of A-One will accelerate 3M’s growth in this important category and provide valuable technical expertise.
“A-One will significantly enhance our ability to create a global label platform that services our customers and delights our loyal 3M end-users,” said Bill Smith, vice president, 3M Office Supplies Division. “A-One not only provides immediate critical mass in Japan and valuable know-how for label production, it accelerates our penetration through the Asia region and underscores 3M’s commitment to be a global leader in the consumer and office label business.”
The transaction is expected to be completed in the second quarter, subject to customary closing conditions including any necessary regulatory approvals.
A-One is the leading branded office and consumer label producer in Japan. A-One is headquartered in Tokyo, and has manufacturing, distribution, and sales locations around Japan. Founded in 1959 by Yoshiaki Arai, A-One is majority owned by the Arai family and led by Hiroaki Arai as president.
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With USD 23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com.