First Brands to Sell 12 Brands Including Autolite for $25 Million
Autolite spark plugs at an auto parts store in Oklahoma City.
Photographer: Nick Oxford/BloombergBankrupt auto-parts maker First Brands Group agreed to sell some of its most-recognizable brands for $25 million after losing rescue funding and major customers.
PGI Northstar will also take on certain liabilities related to the 12 brands in the deal — which include Fram, Autolite and Trico — according to court documents dated Thursday.