Myers Commences Sale Of Lawn & Garden Segment; To Buy Scepter - Quick Facts

(RTTNews) - Myers Industries, Inc. (MYE) announced that it has engaged the investment bank William Blair & Company to commence the sale of its Lawn & Garden Segment. The company expects the sale process to be completed within the next twelve months.

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.

The company also announced that is has entered into a definitive agreement to acquire Scepter Corporation and Scepter Manufacturing, LLC. Scepter is a manufacturer of molded plastic material handling products for marine, military, industrial, and consumer markets. The purchase price is $165.0 million, subject to certain closing adjustments.