Cragar Wheel Brand Sold to Investors

Investors Brad and Jeff Danbom have purchased the assets of Cragar Industries Inc. from Global Entertainment Corp. The Danboms plan to move the company’s headquarters and operations from Tempe, Arizona, to Milford, Iowa.

The company’s existing distribution network will remain intact, according to Brad Danbom. “We plan on being much more aggressive with building brand equity and building relationships with the customers. We are also big believers in organic growth through new product development,” he says.

Cragar has not produced its own wheels since 1999; instead it licenses its name and trademarks to wheel, automotive parts and video game manufacturers.