Who is Barry Meguiar

Who is Barry Meguiar
visit Meguiar's website: http://www.meguiars.com/en/heritage/about/



Barry Meguiar represents the third generation of the company his grandfather founded in 1901. For Barry, working at Meguiar's started during his grade school years, working summers replacing production employees when they went on vacation.

In high school, he began working part-time year round in accounting, becoming the one-man accounting department during his college years. Meguiar's gross sales were $600,000 per year, with most of the 12 employees being family members.

Upon graduation from college, Barry and his wife Karen moved to Detroit to look after Meguiar's relations with GM, Ford, and Chrysler and to manage Meguiar's sales in the eastern third of the United States. Only in a family business could someone so young be exposed to such challenging sales opportunities.

While Meguiar's was exclusively viewed by the family as a professional brand for the car makers, car dealers, body shops and detailers, Barry saw a big opportunity looming in the consumer marketplace. Having grown up in the Southern California car culture, Barry was drawn to car shows all over the country. To his surprise, he kept finding that Meguiar's No. 7 Sealer and Reseal Glaze were being used by all of the top show car exhibitors.

Eventually, it became apparent that most custom car painters were using Meguiar's products because of their unique ability to remove swirl marks and keep fine paint finishes looking brilliant. This led to a family meeting in 1969 where Barry received approval to take Meguiar's into the consumer marketplace. His goal was to create a new brand of Meguiar's products aimed specifically at car guys. After four years of preparations, formulations, and various package designs, the very first consumer product, Meguiar's Liquid Cleaner Wax was launched at the 1973 APAA Show in Chicago.

At the time, automotive enthusiasts had no recognition among the "mass retailers" who controlled the marketplace. Undaunted, Barry's relentless passion and work ethic eventually led to retailer after retailer, featuring Meguiar's Cleaner Wax on their shelves. The rest is history with the average retailer showcasing 40 to 50 separate Meguiar's products on its shelves.

Without any funds for advertising, but determined to earn the respect of one enthusiast at a time, Barry took his products and his passion to car shows. It was the ultimate grassroots program which grew into an international marketing strategy. It was a strategy that paid off, and today, Meguiar's "men in black" can be found at almost every major car show across the country, and around the world, each weekend.

By the mid 1990's, there was growing concern that the car hobby might all but disappear. Car clubs and car shows were falling on bad times with an aging population. To counter this trend, Barry created Car Crazy Radio and Car Crazy Television to unite and mobilize car guys globally, with the goal of promoting and growing the car hobby. Special emphasis was placed on handing the passion for the hobby down to the next generation.

Car Crazy TV is now the longest running show on the SPEED TV and is viewed globally via the Internet and broadcast television. More importantly, regardless of economic fluctuations and for a variety of reasons, the car hobby has been experiencing explosive growth over the last ten years.

For Barry and for everyone at Meguiar's who share his passion, a great foundation has been built for the most exciting days, which always lie ahead.


 More news:

History of Meguiar’s Car Care Brand

http://www.brandlandusa.com/2009/07/20/history-of-meguiars-car-care-brand/

By Garland Pollard

Meguiar’s Mirror GlazeIRVINE, Calif. – Best known for its car-care products, the niche boat and car cleaner brand Meguiar’s sold out to 3M on October 3, 2008.
3M already makes a number of automotive products, and the Meguiar’s product line includes waxes, polishes, cleaners, conditioners and protectants for the automotive and marine markets. (At right, a bottle from the mid-1980s, oror perhaps earlier. It was found in an archaeological dig in a much-beloved relation’s garage.)
“The addition of Meguiar’s builds on our professional offering for the automotive industry and brings the expertise of Barry Meguiar in the growing enthusiast market for car-care products,” said Ian Hardgrove, vice president, 3M Automotive Aftermarket Division in a press release last fall.
A bit from their website:
The family business that began over a century ago making furniture polish one bottle at a time in the garage of founder Frank Meguiar, Jr. now spans three generations of Meguiar’s and 92 countries. Meguiar’s, Inc. has become the world’s most respected manufacturer of cleaners, polishes, waxes, conditioners and protectants for every conceivable surface.
We hope the brand can continue to keep its own identity within the 3M family, just as Scotch tape or Post-it notes are sub-brands of 3M. It’s a quirky brand with cult appeal in the nautical market, and you don’t want to mess it up.
Car enthusiasts know Meguiar’s not only for its products, but also for its presence at thousands of car shows.
“Combining with 3M will greatly enhance our ability to serve and support ‘Car Crazy’ people on a global basis,” said Barry Meguiar, president and CEO, Meguiar’s Inc. in a press release last fall.

In the press release, 3M said that its Automotive Aftermarket Division provides a comprehensive line of 3M products for auto body repair professionals and auto enthusiasts. Products include abrasives and accessories, performance cleaning products, waxes, masking tapes, panel bonding adhesives, general adhesives coatings and sealers, paint finishing polishes and compounds, and paint application systems. Complementary acquisitions such as this support 3M’s growth strategy to strengthen its core businesses and expand into adjacent markets.
Meguiar’s is headquartered in Irvine, California, and last fall employed approximately 115 people; Sawaya Segalas & Co., LLC acted as exclusive financial advisor to Meguiar’s Inc.
The car products company has done an excellent job focusing on its niche, car enthusiasts and produces specialized products for every automotive surface, including paint, wheels, tires, and interiors. They also produce Meguiar’s Car Crazy Television and Radio.

More news: http://news.3m.com/press-release/company/3m-acquire-meguiars-inc

3M to Acquire Meguiar's Inc.

Monday, September 8, 2008 12:00 pm CDT

Dateline:

ST. PAUL, Minn.

Public Company Information:

NYSE:
MMM
"Together, Meguiar’s and 3M will collaborate to deliver even more innovative high performance products for enthusiasts around the world."
ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today it has entered into an agreement to acquire Meguiars Inc., the 100-year-old family business that manufactures the leading Meguiars brand of car care products for cleaning and protecting automotive surfaces. Terms of the transaction were not disclosed.
Meguiars brings its renowned products and proud historyfrom its beginnings providing Mirror Glaze polishes and waxes for professional use to todays top-of-the-line products for everyone dedicated to maintaining a brilliant finish on their vehiclesto 3Ms range of automotive aftermarket products. Meguiars products include waxes, polishes, cleaners, conditioners and protectants for the automotive and marine markets.
The addition of Meguiars builds on our professional offering for the automotive industry and brings the expertise of Barry Meguiar in the growing enthusiast market for car care products, said Ian Hardgrove, vice president, 3M Automotive Aftermarket Division. Together, Meguiars and 3M will collaborate to deliver even more innovative high performance products for enthusiasts around the world.
Car enthusiasts know Meguiars not only for its products but also for its presence at thousands of car shows across the country featuring every type of collector car from hot rods and muscle cars to exotic sports cars to vintage classics. Through Meguiars internationally syndicated, multimedia broadcasting network, people with a passion for cars can experience major automotive events and the latest collector car hobby news.
Combining with 3M will greatly enhance our ability to serve and support Car Crazy people on a global basis, said Barry Meguiar, president and CEO, Meguiars Inc. We are excited about the opportunity to grow our business by joining forces with one of the worlds great global companiesworking together to increase our support of the car hobby worldwide.
3Ms Automotive Aftermarket Division provides a comprehensive line of 3M products for auto body repair professionals and auto enthusiasts. Products include abrasives and accessories, performance cleaning products, waxes, masking tapes, panel bonding adhesives, general adhesives coatings and sealers, paint finishing polishes and compounds, and paint application systems. Complementary acquisitions such as this support 3Ms growth strategy to strengthen its core businesses and expand into adjacent markets.
Meguiars is headquartered in Irvine, Calif., and employs approximately 115 people. The transaction is expected to be completed in the fourth quarter subject to customary closing conditions, including regulatory approvals.
Sawaya Segalas & Co., LLC acted as exclusive financial advisor to Meguiar's Inc.
About Meguiars Inc.
For over 100 years, Meguiars Inc. has been providing Car Crazy people with specialized state-of-the-art formulations for making the appearance of cars show car perfect. Chosen by 20 out of 24 Best of Class winners at the 2008 Pebble Beach Concours dElegance, Meguiars provides highly specialized products for every automotive surface, including paint, wheels, tires, and interiors. As part of its passionate support for the car hobby, Meguiars sponsors more than 11,000 car shows globally and produces Meguiars Car Crazy Television and Radio that represent car enthusiasts worldwide.
About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3Ms core strength is applying its more than 40 distinct technology platforms  often in combination  to a wide array of customer needs. With $24 billion in sales, 3M employs 79,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.

More news: http://www.ocregister.com/articles/meguiar-19873-car-company.html

How Meguiar sold his company - and kept it, too