Industry News

Ashland's Valvoline Division Agrees to Purchase Car Brite

Published on 2005-05-05. Author : SpecialChem

LEXINGTON, Ky. (USA) -- Valvoline, a division of Ashland Inc. (NYSE:ASH), has signed an agreement to purchase Car Brite, a leading marketer of products for the U.S. professional automotive reconditioning industry, from E & A Industries of Indianapolis, Ind., in a cash transaction. The purchase price was not disclosed.

Car Brite's products - a broad array of interior and exterior cleaners, paint restorers and protectants and final detail dressings, paints and dyes - are sold through a dedicated network of more than 100 distributors.

"Car Brite is a premium brand that has earned a great reputation with auto and recreational vehicle dealerships, auto auctions, detail shops and car washes," says Samuel J. Mitchell, Valvoline president. "This acquisition will help Valvoline expand its customer base and help us achieve our aggressive growth plans," he says.

Car Brite President John Campbell says the sale will benefit both businesses and their customers. "Distributors of Car Brite products will have a much greater opportunity to grow because of the strong brands and marketing power that Valvoline brings to the table," he says.

About Ashland and Valvoline

Ashland Inc. (NYSE:ASH) is a Fortune 500 transportation construction, chemicals and petroleum company providing services and customer solutions throughout the world.

Valvoline, a division of Ashland Inc., has been serving American motorists longer than any other motor oil company and is a leading innovator and supplier of quality, high-performing automotive and industrial products in more than 100 countries. Best known for its lubricants, Valvoline also markets Eagle One® appearance products, Zerex® antifreeze, SynPower® performance products, Pyroil® automotive chemicals and MaxLife® products created for higher-mileage engines. Valvoline also has a stake in the growing quick-lube market with its Valvoline Instant Oil Change unit.

About Car Brite

Car Brite was founded in 1947 as a formulator of specialty chemical products and successfully served the Indiana automotive market for 30 years. In 1977, Car Brite was purchased by a group of investors who increased the company's broad range of premium quality products nationally and internationally by providing automotive reconditioning premium products and services. Car Brite serves customers in auto & RV dealerships, auto auctions, car washes and detail shops worldwide. Car Brite is based in Indianapolis where it also maintains a state-of-the-art manufacturing complex. Car Brite products are sold worldwide through an exclusive distributor network that includes more than 100 U.S. distributors and other distributors around the world.

Source: Ashland

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