Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced the sale of the Dryel brand.
On December 23, 2021, Scott's sold the Dryel brand to Summit Brands, a Fort Wayne, Indiana company that markets and distributes household cleaning products.
“The completion of this transaction is a key step in our journey to reshape and streamline our portfolio of brands,” said Tisha Pedrazzini, President of Scott’s. “It meaningfully strengthens our balance sheet and positions us to focus on growth and cash generation as we enter 2022.”
Scott's intends to use the proceeds of the sale to reduce debt.
About Scott’s Liquid Gold-Inc.
Scott’s Liquid Gold-Inc. (SLG-Inc.) is a leading manufacturer and marketer of consumer products sold nationally and internationally to retail channels over the last 70 years. SLG-Inc. markets and distributes some of the most trusted and recognized consumer brand names, including its namesake wood cleaning products; Alpha Skin Care®; Kids N Pets®; Messy Pet®; Biz®; Denorex®; Prell® and other brands.
About Summit Brands.
Summit Brands is a family-owned business started in 1958 and offers highly effective, sustainable, and innovative household cleaning products. Summit Brands began with the distribution of a multi-purpose rust stain remover, Iron Out, and has since branched out to include a broader line of specialty cleaning products under the OUT, Glisten and Plink brands. As a category leader in many consumer segments, our goal is to provide high-quality cleaning products that fit the needs of the consumer with guaranteed results.
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