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Hopkins Expands Reach With Strategic Investment In Paradise Road Car Care
April 16, 2012
By aftermarketNews staff
EMPORIA, Kan. — Hopkins Manufacturing Corp., a provider of vehicle cleaning tools and accessories, announced a major move into the complementary automotive appearance category by making a significant strategic investment in Paradise Road LLC, a Surf City Garage spin-off.
According to Hopkins, while Surf City Garage is a leader in the super-premium enthusiast-grade detailing products for the experienced automotive hobbyist, Paradise Road, based in Huntington Beach, Calif., is an entirely separate company and brand exclusively focused on providing high-quality, premium-level appearance products for the typical car owner at mid-market prices.
As part of their joint venture, Hopkins says it will assist Paradise Road by leveraging its massive global distribution network. The entire line of products will be rolled out to retail stores over the next year.
Paradise Road President Lou Basenese, a 35-year veteran of the automotive aftermarket chemical industry, and a former CEO of Meguiar’s Inc., commented, “The automotive appearance category is filled with hundreds of products and brands, yet it’s still incredibly confusing for the average, non-enthusiast car owner to make sense of the products on the planogram. In fact, industry insiders call the product selection ‘the wall of confusion.’ The whole point of Paradise Road and our investment and distribution partnership with an industry leader like Hopkins is to make car care easy, simple and fun for every single one of the drivers out there. As a demographically inclusive brand, Paradise Road will be featuring distinctive packaging, clear, non-technical messaging, and a line of products that will help everyone who owns a car retain and even increase its resale value, all while keeping it looking great inside and out.”
Brad Kraft, president and CEO of Hopkins, elaborated on the strategic importance of Hopkins’ investment.
“As the industry leader in detailing tools, it was a logical step to expand our focus to include detailing products," said Kraft. "After performing due diligence on a wide variety of options and appearance chemical manufacturers, it became clear to us that Paradise Road had the vision, the market focus and the quality standards that would give us the opportunity to quickly gain market share in this important, complementary and very large segment.”
The second acquisition for the company in as many weeks, Hopkins last week announced it had acquired F3 Brands, a provider of oil drains, drain pans, lifting aids and automotive ramps. F3 is the non-fuel containment business of Blitz USA.