Auto Service World
News   October 4, 2002   by Auto Service World

Biggest Name In Muscle Car Wheels Could Be For Sale

One of the performance aftermarket’s most venerable wheel brands could be on the market.
Cragar Industries, Inc., has announced that it has directed its exclusive financial advisor, Miller Capital Corporation, to explore and evaluate strategic alternatives, including business combinations or the sale of the CRAGAR brand.
“This assignment reflects the board’s continuing commitment to enhancing shareholder value,” stated Michael L. Hartzmark, chairman and chief executive officer.
The company stated that this does not necessarily mean that this will result in a sale, but the brand continues to have a great deal of equity among enthusiasts.
Cragar Industries no longer manufactures wheels bearing its name. Instead, the Phoenix, Az., company acts as a licensor of the CRAGAR, TRU-SPOKE, CRAGAR S/S and STREET PRO brand names and receives royalties through licensing alliances with companies that manufacture, sell and distribute various types of licensed wheels and wheel related products.
In addition, the company also receives royalties from two retail toy companies that prominently display the CRAGAR logo on the packaging and the marketing of their die cast model vehicles that feature CRAGAR brand wheels.

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