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3M Completes Acquisition of Do-It-Yourself and Professional Business of GPI Group

Monday, October 3, 2011 8:00 am CDT

Dateline:

ST. PAUL, Minn.

Public Company Information:

NYSE:
MMM

ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has completed its acquisition of the do-it-yourself and professional business of GPI Group. GPI is a manufacturer and marketer of home improvement products such as tapes, hooks, insulation and floor protection products and accessories, headquartered in France. Terms of the transaction were not disclosed.

GPI offers a wide array of products and solutions sold under such well-known brands as GPI, Plasto and Dinac, which address multiple do-it-yourself (DIY) needs of consumers in France and other European markets. This acquisition builds on 3M’s existing product platforms and accelerates its expansion and participation in home improvement channels globally.

3M’s construction and home improvement products serve a wide variety of household purposes. The business provides its well-known brands ScotchBlue™ painter’s tapes; 3M™ Command™ adhesive hooks, hangers and clips as well as packaged and bulk sandpaper; anti-slip products; electrical connectors; safety products; energy saving window insulator kits for indoor and outdoor use; retail automotive products; and wood refinishing products.

About Gergonne Group/GPI
Gergonne Group was founded in 1962 and is based in Oyonnax, France. It has two main businesses: one is the industrial business; the second is the do-it-yourself and professional business. The transaction is related to the entire do-it-yourself and professional business (adhesive tapes, insulation products, door stops, hooks, etc.) of the Gergonne Group and includes three of its subsidiaries, GPI SAS (adhesive tapes, hooks and insulation products), Plasto Adhésifs SAS (adhesive tapes and insulation products) and Dinac SAS (floor protection products and accessories). The transaction does not include the industrial business, which remains the property of the Gergonne family.

About 3M
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $27 billion in sales, 3M employs about 80,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com or follow @3MNews on Twitter.

3M, Command, and ScotchBlue are trademarks of 3M.

Contact:

Media Contacts:
3M
Donna Fleming Runyon, 651-736-7646
or
3M France
Catherine Hamon, 33-1-30317506
or
Investor Contacts:
3M
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807

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