GreatStar Tools USA acquires Shop-Vac to expand its product portfolio

GreatStar Tools USA acquires Shop-Vac to expand its product portfolio

by Nandita Bhardwaj

Following an abrupt closure in September 2020, Pennsylvania-based leading wet and dry vacuum systems provider Shop-Vac Corp. has reportedly been acquired by Hangzhou Equipment Holdings LLC, a division of Hangzhou GreatStar Industrial Company as well as GreatStar Tools USA.

For those uninitiated, GreatStar is one of the major hand tools suppliers for industrial, professional, and DIY markets across the globe. The company also specializes in manufacturing specialty tools for automotive, plumbing, paint, and masonry applications.

Sources confirmed that the fresh acquisition will allow GreatStar to integrate Shop-Vac products in its growing line of American tool brands. As per the agreement, GreatStar will take ownership of all Shop-Vac’s assets, revive the Pennsylvania plant, and hire various laid-off employees after its sudden closure in September.

The company intends to re-establish as well as expand Shop-Vac’s industrial leadership and production capabilities by combining American and Asian manufacturing, sources claimed. GreatStar will manage the production process at the Pennsylvania facility and will also prioritize Shop-Vac’s distribution system in the United States, particularly for hardware stores, large home centers, and large-box retailers.

Meanwhile, Shop-Vac will reportedly provide core skills related to operations and manufacturing for GreatStar, such as expertise in polymer, industrial, and electrical engineering capabilities as well as in injection molding.

According to Group President of GreatStar Tools USA Gary DuBoff, Shop-Vac products play a key role among retailers and the general public in North America as well as around the world. He added that Shop-Vac’s strong market presence, in combination with GreatStar’s global recognition, investment capabilities, innovation pipeline, and manufacturing expertise will offer their customers products with better value.

About Shop-Vac Corporation

Shop-Vac, which is headquartered in Williamsport, Pennsylvania, has been a pioneer in vacuum systems which are primarily used by factories, garages, workshops, and other demanding applications. The company has been operational for around 55 years before being abruptly closed in September 2020.

Source Credits –

https://www.businesswire.com/news/home/20201228005317/fr

Nandita Bhardwaj

Having a marketing management post graduate degree under her belt, Nandita spent considerable time working in the field of recruitment. However, her real interest lay in playing with words and soon enough, she commenced her career in the field of content creation. Currently, she authors insightfuRead more...