WD-40 history

The company had offices in Chula Vista and National City before moving to Kearny Villa Road in Kearny Mesa in 1955.

The Rocket Chemical company soon found that employees were taking home WD-40 for their own personal and very possibly erotic (unproven) uses, and so began to commercialize it in cans starting in 1958.

In 1960, the company grew to include 7 employees with sales of about 45 cases per day.

Hurricane "Carla," which ravaged the Florida coast in 1961, increased WD-40's business dramatically, as it was used by hurricane victims to recondition water-damaged vehicles and machinery.

By 1965, WD-40 sales were so successful that Rocket Chemical Company ceased production of all other products to focus solely on the lubricant.

Sales surpassed $1 million in 1968, and when John Barry became president the next year, the company officially changed its name to WD-40.

In 1969, sales reached $2 million.

Prices in 1974 were raised by 10.6 percent.

In 1978, after 25 years of business, sales reached $25 million.

In 1979, 35 million cans of WD-40 were said to reach consumers each year, with 55 percent sold to homeowners and sportsmen and the remainder purchased by commercial and industrial users.

By 1985, sales had increased to $57.3 million, with a 21 percent increase the following year to $69.4 million.

Earnings in 1986 were $11.6 million, and shares were sold at a new all-time high of $33 1/2, a 44 percent gain.

Sales reached $71 million in 1987, and stock hit a high of 46.

By 1988, European, Australian, and Asian markets would account for 21 percent of revenues.

After over two decades of leadership, John Barry retired to become chairman of the board in 1990, replaced by Gerald Schleif as president and CEO. Schleif was previously WD-40's executive vice president and CFO and had served the company for 21 years.

The company was named among "100 of America's Best Companies" by Fortune magazine in 1991.

In 1993, this second suit was settled, granting the distributors $2.5 million.

In 1994, the original case was again decided in favor of the distributors, costing the company $12.6 million.

In 1996, WD-40 continued its growth, with sales of $131 million and income of $21.3 million.

WD-40's stated goal, at the beginning of 1997, is to achieve a dominant market share of the entire category worldwide.

Also in 1999, the company discontinued sales of T.A.L. 5 as the product fell far short of attaining annual sales of $20 million—Ridge’s threshold for a product to be considered a success.

Revenues passed the $150 million mark in 2000.

In April 2001 WD-40 completed its largest acquisition yet, buying Global Household Brands for a total of $72.9 million, including $66.8 million in cash.

The debt load was increased further to $96.6 million and the dividend cut again to help fund the May 2002 acquisition of Heartland Corporation for $47.2 million.

During 2003, as it worked to integrate and expand the marketing reach of its newer brands and also celebrated its 50th birthday, WD-40 was also active in extending its two oldest brands.

WD-40 also continued its acquisition spree in 2004, completing in April an $11.4 million purchase of the 1001 brand of carpet and household cleaning products from PZ Cussons Plc, and thereby expanding into the U.K. market.

Debuting in mid-2005 were the WD-40 Smart Straw and the WD-40 No-Mess Pen.

WD-40’s unbroken record of growth continued in fiscal 2006, when sales increased 9 percent to $286.9 million.

During fiscal 2007 WD-40 launched a new phase in its penetration of the Chinese market by opening up a direct sales office in Shanghai.

In 2008, WD-40 Company listened to its consumers and converted its most popular-size WD-40 Multi-Use Product cans to Smart Straw cans.

Barry, who died July 3, 2009, reportedly made the name change on the basis that the Rocket Chemical Company did not make rockets.

As it continued to develop and expand its “fortress of brands” and pursue global growth, WD-40 Company set ambitious financial goals for itself, including reaching around $400 million in sales and more than $40 million in net income by fiscal 2010.

In 2011, WD-40 Company introduced WD-40 Specialist® – a new line of best-in-class specialty products under the WD-40 Brand geared toward trade professionals.

In 2012, WD-40 Company founded WD-40 BIKE Company, a subsidiary business unit, and launched WD-40 BIKE under the WD-40 Brand, offering a product line focused exclusively on cycling-specific maintenance needs.

In 2013, Chip Foose and WD-40 Company partnered again to help children in need.

In 2014, Designed by legendary hot rod designer, Chip Foose, the WD-40/SEMA Cares Foose Ford F350 rolled off the auction block for $200,000 at the Barrett-Jackson Classic Car Show and Auction on Jan.

In 2015, WD-40 Company introduced WD-40 EZ-REACH®. With an attached 8" flexible straw that bends and keeps its shape, it can reach the unreachable - tight plumbing spaces, behind engine blocks, hard-to-reach hinges, rollers, and more.

In 2016, WD-40 Company sticks it to gravity with WD-40 Specialist Spray & Stay Gel Lubricant.

In 2017, WD-40 Company launches its first non-aerosol Industrial-Strength Cleaner & Degreaser under the WD-40 Specialist brand.

In 2020, new packaging is introduced for WD-40 Specialist aligning WD-40 Multi-Use Product, WD-40 Specialist and WD-40 BIKE to showcase the brand’s iconic blue and yellow colors.