Victory Park Capital buys Fuller Brush

By Michael Lauzon
Correspondent

Published: October 29, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding

NEW YORK (Oct. 29, 1:15 p.m. ET) — The Fuller Brush Man has a new route.

Asset management firm Victory Park Capital of Chicago has bought the consumer-related assets of Fuller Brush Co. out of bankruptcy. The firm has a 106-year history of making a wide range of brushes that became an icon in the decades after the Second World War. The former owner was Buckingham Capital Partners of New York.

Fuller Brush makes most of its products in Great Bend, Kan., where its head office is located. It is well known for its range of brushes aimed at consumers.

Fuller petitioned for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code on Feb. 21.

Victory Park announced Oct. 23 that the U.S. Bankruptcy Court in New York approved the sale of Fuller’s consumer assets, consumer brands and goodwill. Victory Park expects to finalize the deal in December.

Fuller’s non-consumer related business will be sold to Innovative Livestock Services, also of Great Bend, Kan., which comprises a group of several livestock feeding yards in Kansas and Nebraska.

“Fuller applied for Chapter 11 in an attempt to eliminate less-profitable products and cut operating costs in an effort to improve profitability,” a Victory Park spokesman explained in an email correspondence.

Victory Park is not disclosing terms of the deal.

Fuller continues to operate under bankruptcy protection. It makes a wide range of consumer products for household and commercial cleaning and personal care. Its consumer products include brushes and skin-care products. It also distributes a range of consumer goods for kitchen, laundry and bath applications.

Victory Park named industry veteran David Sabin as CEO of the Fuller consumer business.


Comments

Victory Park Capital buys Fuller Brush

By Michael Lauzon
Correspondent

Published: October 29, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

RPC Group buying Iceland's Promens

November 27, 2014 8:46 am ET

In a major acquisition that combines two rigid packaging companies with international footprints, RPC Group plc has signed a 399 million euro ($497...    More

Image

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013, an...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events