First Brands putting business up for sale

First Brands Group is on the block.

The company announced late last week it has launched a sale process to market and sell its business, as a whole or in parts, to maximize stakeholder value.

The sale process is intended to accelerate the company’s transition to new ownership, and its emergence from Chapter 11 cases, and the next phase for First Brand’s large portfolio of brands and businesses.

“Launching the marketing process represents a decisive step toward positioning our brands for long-term stability under new ownership,” says Charles Moore, interim CEO at First Brands Group. “Over the past several months, we have gained clarity on the significant value across the First Brands portfolio and the strong growth potential of our core business lines in the aftermarket industry.”

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The company is also in discussions with an Ad Hoc Group of lenders regarding an agreement to provide additional debtor-in-possession financing and serve as the stalking horse bidder for certain business segments in the sale process. Once finalized and upon court approval, First Brands states the expected funding would enable First Brands to maintain continuity of supply and service for customers across its core brands and product lines through the sale process.

First Brands holds a portfolio of leading automotive and commercial vehicle aftermarket brands, including FRAM, Luber-finer, Raybestos, Trico, Autolite, ANCO and more.

“With the continued support of our lenders and meaningful inbound interest, this process will enable us to efficiently explore a range of strategic outcomes while prioritizing our customers, vendors and employees,” says Moore.

First Brands states it anticipates filing a motion seeking authorization to conduct a sale and marketing process for all of its assets. The sale process is designed to achieve the highest or otherwise best bid for the assets pursuant to section 363 of the U.S. Bankruptcy Code. The company states it expects to market the business in an efficient and timely manner with the intention to complete the process in first quarter 2026, subject to court approval.