SADDLE BROOK, N.J. & WILLIAMSPORT, Pa. & HANGZHOU, China–Hangzhou Equipment Holdings, LLC, a subsidiary of Hangzhou GreatStar Industrial Co., Ltd., and GreatStar Tools USA, the leading manufacturer of hand tools in Asia, serving DIY, professional and industrial markets worldwide, announced today it has acquired substantially all of the assets of Shop-Vac Corporation, the brand leader in wet/dry vacuum systems for consumer and commercial applications.
As part of the acquisition, GreatStar will take ownership of all Shop-Vac’s company assets, open the Williamsport, PA, factory, and hire a number of employees who were separated after the factory’s abrupt closure in September 2020.
“We are thrilled to add another iconic American brand to GreatStar’s portfolio of brands – alongside Arrow Fastener, Pony, Jorgensen, Goldblatt, and Prime-Line Products – particularly one that gives us the opportunity to bring manufacturing and jobs back to the US,” says Gary DuBoff, Group President, GreatStar Tools USA. “Shop-Vac products are ‘must-have’ items for many retailers and consumers in North America and around the world, and we look forward to restoring this brand’s loyal following and distribution.”
After the acquisition, GreatStar plans to reestablish and expand Shop-Vac’s industry leadership built on best-in-class innovation, features, value and manufacturing ability, utilizing a mix of both Asian and US-based manufacturing. The company will retain manufacturing in its Williamsport, PA, factory, and will also prioritize restoring Shop-Vac’s distribution in the US, including big-box retailers, major home centers and hardware stores.
Shop-Vac also adds core competencies to GreatStar’s manufacturing and operations, including expertise in injection molding; tool and die making; and electrical, industrial and polymer engineering capabilities.
“Shop-Vac represents an important addition to GreatStar’s global product portfolio. The brand’s strong market position, combined with GreatStar’s manufacturing expertise, innovation pipeline, investment capabilities and global reach, will deliver more products, more innovation and more value to our customers around the world,” adds DuBoff.
Headquartered in Williamsport, PA, Shop-Vac is synonymous with the wet/dry vacuum category. With manufacturing in the US, China and Vietnam and worldwide distribution, Shop-Vac was a pioneer in the heavy-duty vacuum system category, serving workshops, garages, factories and other demanding applications. Before closing its doors in September 2020, Shop-Vac provided customers with reliable and trusted products for more than 55 years.
GreatStar Tools USA is part of Hangzhou GreatStar Industrial Co., Ltd., one of the largest hand tool manufacturers in Asia, specializing in designing and manufacturing high-quality products for DIY, professional and industrial markets globally.
With this acquisition, GreatStar adds the Shop-Vac brand to its growing portfolio of US tool brands, including Pony and Jorgensen woodworking clamps; Goldblatt concrete, drywall, masonry and tile tools; Arrow Fastener stapling tools, glue guns and rivet tools; and Prime-Line Products replacement and security hardware.
Headquartered in Williamsport, PA, Shop-Vac is the brand leader in wet/dry vacuum systems for consumer and commercial applications. A pioneer in the heavy-duty vacuum system category and serving workshops, garages, factories and other demanding applications since 1965, the brand also offers accessories ranging from wet and dry filters, replacement vacuum parts and sawdust collection systems. For more information, visit www.shopvac.com.
About Hangzhou GreatStar Industrial Co., Ltd.
Established in 1993, GreatStar is the leading manufacturer of hand tools in Asia, serving DIY, professional and industrial markets worldwide. GreatStar also manufactures a full range of specialty tools for drywall, masonry, painting, tiling, plumbing and automotive applications, as well as power tools, tool sets and flashlights. GreatStar’s culture of innovation, firm commitment to R&D and extensive customer insight ensure their leading brands and high-quality products meet the specific needs of the consumers and professionals they serve. For more information, visit www.greatstartools.com.
Courtesy of -(BUSINESS WIRE)-