Armored AutoGroup Announces Global Debut
Former Clorox Brands Form the Foundation of a New, Leading Company in the Automotive Aftermarket
DANBURY, Conn., Dec. 1, 2010 /PRNewswire/ -- Armored AutoGroup Inc., formerly the Global AutoCare Business of The Clorox Company, today announced its debut under a new name. The Armored AutoGroup name reflects the company's rich heritage of leadership in protectant, appearance and performance products for the auto aftermarket with well-known brands including Armor All® and STP®. Armored AutoGroup is controlled by Avista Capital Partners.
David Lundstedt, Armored AutoGroup's Chairman and CEO, said, "As an independent company, Armored AutoGroup is well-positioned to build upon the strength of the Armor All® and STP® brands by focusing on product innovation, strengthening our partnerships with retailers and executing our international growth strategy. In addition, we are on-track to introduce several exciting new products during the upcoming year."
With its comprehensive, high-quality and competitively priced product line, Armor All® is one of the most recognized automotive aftermarket appearance product brands in the United States. Over its 50-year history, it has distinguished itself as a leader in the automotive aftermarket appearance products category and built strong brand equity through its high-quality product formulations, convenient application methods and tradition of innovation. The current line of Armor All® products includes protectants, wipes, tire and wheel care products, glass cleaners, leather care products and washes designed to clean, shine and protect interior and exterior automobile surfaces.
The STP® brand has been characterized by a commitment to technology, performance and motor sports partnerships for over 50 years. Regular use of STP® additives as part of basic maintenance helps engines run better and saves gas by keeping fuel intake systems clean. The STP® brand's fuel and oil additives, functional fluids and automotive appearance products benefit from a long history of providing reliable, beneficial products for the car enthusiast as well as for ''Do-it-Yourselfers''.
Armored AutoGroup employs over 160 people and is headquartered in Danbury, CT, with additional corporate offices in Pleasanton, CA and manufacturing facilities in Painesville, OH and Wales, U.K. The company has a diversified geographic footprint with direct operations in the United States, Canada, Australia and the U.K., and distributor relationships in approximately 50 countries.
About Armored AutoGroup
On November 5, 2010, through Viking Acquisition Inc., Avista Capital Partners acquired the assets of the Global AutoCare Business from The Clorox Company. The Global AutoCare Business has now been renamed Armored AutoGroup Inc.
Armored AutoGroup, headquartered in Danbury, CT, is primarily comprised of the Armor All® and STP® brands. Armor All's® current product line of protectants, wipes, tire and wheel care products, glass cleaners, leather care products and washes is designed to clean, shine and protect interior and exterior automobile surfaces. STP's® offering of oil and fuel additives, functional fluids and automotive appearance products has a broad customer base ranging from professional racers to car enthusiasts and ''Do-it-Yourselfers''. The company has a diversified geographic footprint with direct operations in the United States, Canada, Australia and the U.K. and distributor relationships in approximately 50 countries. For more information, please visit www.armorall.com and www.stp.com.
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with offices in New York, Houston and London. Founded in 2005, Avista's strategy is to make controlling or influential minority investments in growth-oriented energy, healthcare, media, industrial and consumer businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. For more information, visit www.avistacap.com.
Diana Postemsky, Kekst and Company, 212-521-4805
SOURCE Armored AutoGroup Inc.
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