Danboms buy assets of Cragar Industries
MILFORD – Brothers Brad and Jeff Danbom, respectively of Arnolds Park and West Okoboji, have acquired the assets of Cragar Industries, Inc. from Global Entertainment Corporation.
The new company will be located in the office area of Cycle Country at the intersection of Highways 71 and 86 in North Milford.
Cragar Industries, Inc., is a household word to classic car enthusiasts. Cragar wheels were the gold standard for street-rodders for decades.
Founded in 1931, Cragar stands for the best value in performance and style. Throughout the ’40s and ’50s Cragar built a variety of performance parts for hot rods. Then in 1964 everything changed with the launch of the SS wheel, the most popular aftermarket wheel in automotive history. Today, tens of millions of cars and trucks are equipped with the now famous Cragar wheels. The CRAGAR brand enjoys a very strong emotional bond with customers and is widely recognized by people everywhere.
In 1999 Cragar changed its business model from manufacturing products to licensing other companies to use its trademarks. Cragar currently licenses its name and trademarks to numerous companies that produce everything from automotive parts to toys and video games.
The Danboms are in the process of moving the company from Tempe, Ariz., to Milford. They are excited to own the CRAGAR brand, a name that runs deep in the history of the American automotive industry. They intend to focus on building brand equity and forming strong relationships with customers and licensees.
Brad said he and Jeff will continue with the Cragar-issued contracts and later consider manufacturing. The current wheel contract with Carlyle Wheel and Tire of California will be up in seven years.
“The world will be open to us” as far as a manufacturing site is concerned.
Jeff said the business could grow to 10 or more employees. If a manufacturing facility is added, he noted, “It could be hundreds.”
Jeff is currently a Cragar licensee for golf carts and aluminum wheels under his own trade name, American Muscle Works, a company he started last year. It was through his relationship with Cragar that he learned the company was for sale.
To learn more about Cragar, please visit www.cragar.com.