Zep Inc. (ZEP) Completes Hale Group Acquisition

Zep Inc. (NYSE: ZEP), announced that Zep Europe B.V., a wholly owned subsidiary of Zep Inc., completed the purchase of all of the shares of Hale Group Limited (“Hale Group”), based in the United Kingdom, effective January 31, 2012 for an undisclosed price. Hale Group’s two subsidiaries, Forward Chemicals Limited and Rexodan International Limited, are highly regarded manufacturers and suppliers of liquid, powder and aerosol chemicals and solutions direct to Industry and Commercial Laundries.

Zep Inc. financed the acquisition with cash on hand. Acquisition transaction costs will be reflected in the second quarter of fiscal 2012 as part of the incremental corporate development costs referenced during the first quarter earnings conference call. Excluding these acquisition transaction costs, this acquisition is expected to be earnings neutral in the current fiscal year.

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