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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C.
20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): April 30,1999
WD-40 COMPANY
(Exact Name of Registrant as specified in its charter)
California 0-6936-3 95-1797918
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
1061 Cudahy Place, San Diego, California 92110
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (619) 275-1400
No Changes to name or address.
(Former name or former address, if changed since last report)
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ITEM 2. Acquisition or Disposition of Assets.
On April 30, 1999, the registrant acquired all of the worldwide Lava brand
trademarks and other intangible assets relating to the purchase of the Lava
brand heavy-duty hand cleaner product line from Block Drug Company, Inc. The
acquisition of assets also includes inventory on hand and certain equipment.
The registrant paid cash in the amount of $19.0 million for the Lava brand,
including intangible assets and certain equipment. The purchase price for the
brand represented approximately two times recent annual revenues of the Lava
brand. In addition, the registrant purchased approximately $3.4 million in
product inventory and incurred approximately $750,000 in costs related to the
transaction. To finance the transaction, the registrant borrowed $16.0
million from Union Bank of California and used cash on hand for the balance.
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ITEM 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
The required financial statements are unavailable and will be
filed on an amendment to this Form 8-K on or before July 13,
1999.
(b) Pro forma financial information.
The required pro forma financial information is unavailable
and will be filed on an amendment to this Form 8-K on or
before July 13, 1999.
(c) Exhibits.
None.
SIGNATURES:
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
WD-40 Company
(Registrant)
Date: May 14, 1999 /s/ Thomas J. Tranchina
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Thomas J. Tranchina
Chief Financial Officer
(Principal Financial Officer)
