The Exiss, Featherlite and Sooner brands have been acquired from Universal Trailer Corp. (UTC) by a newly formed corporation owned by Tim Masud and Howard Palmer.
Masud will serve as CEO and has more than three decades of experience as an adviser, dealership owner and investor in the trailer industry. The agreement for this purchase was finalized at the end of 2019. Featherlite trailers will continue to be made in Cresco, Iowa.
As the new CEO and ownership partner of the Exiss, Featherlite and Sooner brands, Masud says, “I’m excited for the opportunity to own three iconic brands in the industry that I’ve known and respected throughout my career. Each brand brings something different to the table, and each has served the trailer industry well for many years.”
Featherlite was the first brand to produce aluminum horse and livestock trailers, and has been in the trailer segment for more than 40 years. The Exiss brand has a 25-year history of making trailers for multiple markets. And Sooner has been making durable trailers for over 50 years.
“We thank the past customers, loyal dealerships and talented personnel at Exiss, Featherlite and Sooner for making the brands as strong as they are today,” Masud says. “We look forward to building on the tradition of these brands with the help of the people and partners we already have in place.”
The UTC manufacturing plants in Oklahoma and Iowa are being acquired as a part of this transaction. Exiss, Featherlite and Sooner trailers will continue to be produced in these plants, and will be sold through the established independent network of dealerships in place.
Herbicide brands change hands
American Vanguard Corp. has acquired four herbicide brands from Corteva Agriscience. The brands are Classic, First Rate, Hornet and Python. This transaction includes acquisition of end-use registrations, commercial sales and marketing information, and finished goods inventory.
“Acquisition of these four brands from Corteva Agriscience provides our crop protection business with a strengthened portfolio of valuable herbicides that play an important role in weed control and resistance management,” says Eric Wintemute, CEO of American Vanguard. “These brands broaden our U.S. herbicide offering in soybeans, corn, peanuts and a number of other niche crop markets.”
Classic is a tank-mix partner with other postemergence herbicides. It is used to expand the weed-control spectrum in soybeans and peanuts. First Rate provides both pre- and postemergence control in soybeans. Hornet is used for early-to-midseason control of hard-to-manage glyphosate-resistant weeds. Python is used on postharvest, weed elimination “burndown” applications in corn and soybeans.