(MENAFN- PR Newswire)
INDIAN TRAIL, N.C., May 27, 2022 /PRNewswire/ -- Blumenthal Holdings, LLC announced today that it has entered into a definitive agreement to sell substantially all the assets of Blumenthal Brands Integrated (BBI) to Blaster Holdings. With this transaction, Blaster acquires the right to market and sell the products under the GUNK, Liquid Wrench, and TiteSeal brands, as well as important product lines developed under private label.
For 98 years, the Blumenthal family of businesses has been committed to building brands and developing innovative and specialty product solutions for DIYers and professionals in markets around the world. This transaction is an opportunity to see these great brands continue to grow for years to come. 'I am proud of the work the BBI team has done over the last few years accelerating innovation and building out the pipeline of new products to complement the staples that tradesmen & women have sought by name for decades, and this deal will allow that work to be fully realized,' said President & CEO Mike Guggenheimer. He added, 'Blaster has long been a respected player in our markets and has both the manufacturing and marketing capabilities to take these brands to the next level.'
B'laster Holdings Acquires BBI Assets from Blumenthal Holdings, LLC
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The transaction is expected to close on June 1 and the companies will immediately begin the process of fully transitioning the business to Blaster's operations. This transition is expected to last much of 2022 as the two companies work to ensure minimal disruption for all stakeholders.
Blumenthal Holdings plans to refocus strategically around the RSC Bio Solutions business, a green tech company serving large marine and industrial fleets operating in sensitive environments. 'The drive to decarbonize in markets like the shipping industry coupled with increasing worldwide demand for solutions that help improve sustainability metrics is a significant opportunity,' said Guggenheimer. 'RSC Bio is positioned to address this need with its unique and high-performance technology.'
About BBI Blumenthal Brands Integrated is a wholly owned subsidiary of Blumenthal Holdings based in Indian Trail, NC. Its primary business revolves around building innovative, market-leading brands for professional, industrial, and DIY applications by focusing on the end-users' needs first. BBI is best known for its brands GUNK, LIQUID WRENCH, and TITESEAL, which have been trusted in the market for decades.
About Blaster B'laster Holdings has a portfolio of strong brands that consumers rely on to get the job done. With a legacy going back to 1957 with the invention of their #1 selling penetrant, PB B'laster, the Company prides itself on serving its customers with flexibility, while being a fun, people-focused place to work. Its brands include B'laster, AC Avalanche and Casite.
SOURCE Blumenthal Holdings, LLC
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