Myers Industries to Sell Lawn and Garden Business
Earlier this month, Myers Industries announced that it has engaged the investment bank William Blair & Co. to commence the sale of its Lawn & Garden Segment.
In February 2013, the company had announced that it was beginning a two phased restructuring of Lawn & Garden which might include external options.
The company has concluded that the timing is right to streamline Myers business mix and allow the company to focus resources on its core growth platforms.
The company expects the sale process to be completed within the next 12 months.
Commenting on the announcement, John C. Orr, president and chief executive officer said, “After detailed evaluation, the company and the board of directors have determined that the Lawn & Garden Segment has the greatest opportunity as part of an organization that is strategically focused on its primary markets for future growth.”