Hoonigan Sells 4 Wheel Parts Stores and E-Commerce to ARB

18 Sep, 2024

Hoonigan Sells 4 Wheel Parts Stores and E-Commerce to ARB

Hoonigan, a leader in aftermarket vehicle enhancements, has signed an Asset Purchase Agreement to divest its 4 Wheel Parts (4WP) retail stores, e-commerce sites, and related assets to ORW USA, Inc., the U.S. affiliate of ARB Corporation Limited. In a separate transaction, Hoonigan will divest its Poison Spyder brand to ARB. Both deals are part of Hoonigan's strategic shift, announced under the company's chapter 11 process for its North American affiliates.

Despite the ongoing transition, Hoonigan expects uninterrupted service for 4WP's retail stores and online operations. The divestiture marks a significant step in the company’s plan to refocus on its core product-based businesses. Vance Johnston, CEO of Hoonigan, expressed appreciation for the 4WP team and confidence in ARB's future leadership.

After court approval, the proceeds from these transactions will support Hoonigan's chapter 11 restructuring, positioning the company for future growth. Legal counsel is being provided by Kirkland & Ellis LLP, Stifel is the financial advisor, and C Street Advisory Group is handling strategic communications for the company during this transition.